finance
Mercuria Sues Baltic Exchange Over Middle East Oil Shipping Benchmark
Energy trader Mercuria has sued the Baltic Exchange, alleging distortion of a key benchmark for Middle East oil shipping costs. The suit relates to impacts from the Hormuz incident. Details remain limited as the case unfolds.
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Energy trader Mercuria has filed a lawsuit against the Baltic Exchange, alleging distortion of a key benchmark used for the cost of shipping oil from the Middle East. The suit concerns a shipping gauge that was impacted by the Hormuz incident, according to reports from Bloomberg and other sources. Mercuria stated that the benchmark distortion affected shipping costs in the region.
The Baltic Exchange, which provides the benchmark, has not yet responded publicly to the allegations.
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