The offices of several firms involved in the oil market hav e been raided by European Commission officials. The commission said it had concerns that ‘the companies may have colluded in reporting distorted prices’. It did not name the firms, and said the raids did not mean the companies were guilty of any charges. BP, Royal Dutch Shell, Norway's Statoil and the pricing agency Platts confirmed that they were working with the authorities in their inquiries. The investigation relates to the pricing of oil, refined products and biofuels. Even small distortions of assessed prices may have a huge impact on the prices of crude oil, refined oil products and biofuels purchases and sale s, potentially harming final consumers,’ the Commission said. As part of the investigation, the Commission said it was examining whether the companies may have prevented others from participating in the pricing process ‘with a view to distorting published prices’.

Pray: that the investigation into the oil market will reveal the truths and bring fair and just pricing. (Lev.19:15)

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