June 20, 2011 / 8:08 PM / 8 years ago

US FTC says investigating oil manipulation

WASHINGTON, June 20 (Reuters) - The U.S. Federal Trade Commission is investigating whether oil companies have engaged in practices that lessened competition or manipulated the wholesale supply of crude oil and products, the commission said on Monday in a letter to Senator John Rockefeller.

The commission said it was also looking into whether oil companies had provided false or misleading information to a federal agency related to the wholesale price of oil or petroleum products. (Reporting by Ayesha Rascoe)

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