Financial News

Japan’s Mitsubishi says Singapore unit loses US$320 million on crude oil trading

TOKYO: Mitsubishi, one of Japan’s biggest trading houses, said on Friday (Sep 20) a Singapore-based unit has made a loss of US$320 million from unauthorised trading of crude oil derivatives. An employee of Petro-Diamond Singapore (PDS) who handles crude oil trades for China “was discovered to have …

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