By Robert Campbell 2 hours, 57 minutes ago NEW YORK (Reuters) - The dramatic collapse of energy trader SemGroup LP shocked the privately held firm's backers who until last week had little idea of the extent of the oil trading losses that sank it, sources said this week.As late as June a banker at Bank of America (BAC.N), one of SemGroup's main lenders, described the fast-growing company as one of his best clients, two sources said this week.
The Tulsa, Oklahoma-based company filed for bankruptcy on Tuesday after suffering $3.2 billion in losses on energy futures and derivatives trades that SemGroup says were designed to protect its physical oil trading business.
Read More
