A U.S. regulatory judge ruled BP PLC manipulated the Texas natural gas market in 2008 and said fines against the British energy company could increase because the scheme took place after earlier market manipulation. The ruling by Carmen A. Cintron, an administrative law judge for the U.S. Federal Energy Regulatory Commission, found BP flooded a Texas delivery point with natural gas to drive down prices there in the physical market, while at the same time placing trades in related financial markets that would benefit from the reduced price. BP said Thursday it disagreed with the judge’s conclusions and would appeal the decision to the full FERC commission. “BP is committed to adhering to the highest ethical standards,” the company said. It had maintained in case filings and an earlier hearing that the trading wasn’t improper and that FERC’s analysis of the evidence was flawed. A FERC […]