The EC is asking oil traders in Europe if they have evidence of market abuse.
They are after major discrepancies between bids and offers submitted to the Platts agency and other deals done in the market
Two unnamed sources from separate trading desks said the EC request was for trades done between 2010 and 2013. The key request from the EC was to supply evidence that bids and offers by a company through Platts market-on-close mechanism did not reflect a position in the physical market.
Platts is a price reporting agency based in New York.