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Market
Will Vitol face additional legal action related to market manipulation in any U.S. state by mid-2025?
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Resolution / Starting Odds
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No • 50%
Court filings, official announcements, or credible news outlets
Story
Vitol and SK Energy Settle California Gasoline Market Manipulation Case for $50 Million
Jul 10, 2024, 05:14 PM
Energy trading firms Vitol and South Korea’s SK Trading International have agreed to pay $50 million to resolve allegations by California's attorney general that they manipulated the state's gasoline market. The lawsuit accused the firms of secretly working together to tamper with and manipulate spot market prices for California gasoline, causing consumers to pay higher prices. This settlement marks a significant resolution in the state's efforts to regulate and maintain fair market practices in the energy sector.
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Similar markets
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Appeal denied • 25%
Sentence reduced • 25%
Sentence overturned • 25%
Other outcome • 25%
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Vitol exits California market • 25%
SK Trading International exits California market • 25%
Both companies exit California market • 25%
Neither company exits California market • 25%
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