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The Boston Globe

Business

Investigators suspect oil price manipulation

NEW YORK — When a BP rig exploded in the Gulf of Mexico in 2010, Richard Fry, a top executive at a trucking company, said he noticed something strange about the oil market. Prices spiked quickly, he recalled, and they took much longer to drop.

“It is too coincidental that companies’ prices all go up the same and all come down very, very slowly,” said Fry, who buys large amounts of fuel for his company, Framptons Transport Services.

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