CFTC v. Statoil ASA (price manipulation, 2017)
Settled
Checked against the primary document on October 2, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.
In 2017, the Commodity Futures Trading Commission obtained a judgment against Statoil ASA, alleging conduct this library classifies as price manipulation and settlement price manipulation. The release records a civil penalty of $4 million.
The record
| Agency | CFTC |
|---|---|
| Release number | 7643-17 |
| Date filed | 2017-11-14 |
| Date resolved | 2017-11-14 |
| Status | settled |
| Asset class | futures |
| Venue | NYMEX, OTC |
| Criminal parallel | No |
| Defendants | Statoil ASA |
| Cited as charged or alleged | CEA s.9(a)(2) |
| Techniques | Price manipulation , Settlement price manipulation |
What was ordered
- Civil penalty
- $4m
- Disgorgement
- —
- Prejudgment interest
- —
- Total relief
- $4m
- Alleged gain
- —
What is alleged to have happened
the Commodity Futures Trading Commission announced this matter on November 14, 2017 as release 7643-17. The respondent named is Statoil ASA (0 individuals, 1 entity).
This library tags the matter as price manipulation and settlement price manipulation, based on the conduct the regulator describes. Each tag links to a page explaining how that technique works, what statute it engages, and what penalties comparable actions have attracted. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.
The conduct is recorded against futures, with NYMEX, OTC identified in the release.
The relief recorded in our data is a civil monetary penalty of $4 million. Penalty and disgorgement are distinct: disgorgement returns the gain, while the penalty is punitive. We store them separately so that aggregate figures across the library are not double-counted.
For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.
What technique is this, and how does it work?
This action is tagged with 2 techniques in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.
- Price manipulation — see how it works, what statute it engages, and every other action tagged the same way.
- Settlement price manipulation — see how it works, what statute it engages, and every other action tagged the same way.
Timeline
- 2017-11-14 CFTC release published
Primary documents
Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.
Related actions
Other actions in the library sharing at least one technique tag with this one.