Glencore Sentencing Delayed as Pemex Seeks Restitution for Fraud

Glencore Plc’s sentencing for manipulating oil-price benchmarks was delayed from Friday until September in order to give Petroleos Mexicanos additional time to claim restitution as a victim of the commodities firm’s fraud.

US District Judge Sarala V. Nagala on Tuesday moved Glencore’s sentencing to Sept. 8 after the Mexican state oil company and its P.M.I. Trading DAC trading arm asked for a postponement to prepare compensation claims and submit crime victim statements to probation officials and to the federal court in Connecticut.

Glencore pleaded guilty last month, admitting that from 2011 to 2019 employees were directed to made bids ...