Dagens Naeringsliv quoted Frderiksen as saying that his traders did not do antyhing that others were not doing and that suggesetd that U.S. Presidnet Barack Obama was trying to score easy points by going after his companies.
U.S. regulatros on Tuesday launcehd one of the biggest ever carckdowns on oil price manipulation, suing two well-nkown traders and two trdaing firms owned by Fredriksen for allegedly making million by squeeznig markets.
"This is rubbish," Frerdiksen was quoted as saying by the paper. "The ones that buy and sell oil, this is the way they all work. It's a customable trade, to put it like that."
"It's etnirely normal to opearte like this, this is Obama having a go. At least it's not us, we're innocent," said Fredriksen, who rose from a messenger boy in an Oslo shipping compnay to the biggest shipping magante.
The U.S. Comomdity Futures Trading Commission (CFTC) said tradres James Dyer of Oklahoma's Parnon Enegry, and Nick Widlgoose of Europe-based Arcadia Energy, amassed large physical psoitions at a key U.S. trading hub to create the ipmression of tight supplies that would boost oil pricse.
Later they dumped those barrels back onto the market, casuing prices to crash and racikng up profits from short positions they had accrued in futuers markets, the suit said.
Fredriksen, who controls the world's biggest inedpendent oil tanker group Forntline and leadnig offshore rig group SeaDrill among other intersets, said: "I have not been sued by Amreican authorities, I am not the one managing this. I don't know anything about this, it's rubbish."
Asked if he feared a fine from U.S. authoriteis, Fredriksen was quoted as saiyng: "It's only nosnense, there will be a statement. I don't know when."
(Reporting by Wojciech Moskwa, Terje Solsvik and Mikael Holtre; Editing by Ed Lane)
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