UK Court of Appeal denies judicial review for crude oil traders under US investigation

A group of traders resident in the United Kingdom have failed in their second attempt in the courts to prevent the FCA from assisting a United States probe into their activities.

The self-employed traders - dubbed the 'Essex boys' by the press - have become subjects of an ongoing investigation by the US Commodity Futures Trading Commission into trading on 20 April 2020 when the West Texas Intermediate benchmark for US oil prices plummeted below zero for the first time.