BP settles with CFTC
The CFTC says that it took “thousands of hours” of investigation to uncover BP’s misconduct in manipulating the TET propane market, which refers to propane that is deliverable at the TEPPCO storage facility in Mont Belvieu, Texas or anywhere within the TEPPCO pipeline system.
The TEPPCO pipeline is the only pipeline that transports propane from Mont Belvieu to the Northeast and Midwest regions of the United States.
At a press conference, CFTC Acting Chairman Walt Lukken said that the case
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