Reuters exclusively reports Arcadia’s tactics to control Yemen’s crude exports

Reuters buried the competition on June 1 with an exclusive using Wikileaks material and follow-up interviews to show how the oil trading firm Arcadia, which was charged by the CFTC last week with manipulating the U.S oil market, had used hardball tactics to control Yemen’s crude exports. The story was widely picked up, including by Dow Jones, and capped a week that saw Reuters leading the pack on the unfolding Arcadia saga including spot stories on billionaire owner John “Big Wolf” Fredriksen linking the suit, which named two traders formerly employed by BP, to the oil spill in the Gulf of Mexico last year, an analysis on the likelihood of the CFTC will win the case, and a graphics that tracked the events of the suit through time through the spread that were allegedly manipulated. The effort linked reporting efforts across the globe to give clients the most exhaustive coverage of this widely watched case of a notoriously quiet trading firm.