TotalEnergies Faces $48M Fine for Market Manipulation
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French oil giant TotalEnergies faces a fine from the U.S. Commodity Futures Trading Commission for allegedly manipulating gasoline futures in 2018 through its trading unit, TOTSA. The CFTC accuses the company of attempting to lower the price of EBOB gasoline to benefit its trading profits and criticized it for not providing relevant WhatsApp communications during the investigation. Despite a focus on renewable energy, TotalEnergies is facing pressure from fluctuating oil prices and regulations, leading to a Hold rating from analysts, although its stock has gained 12.1% over the past six months.
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