Oil Price High Caused by Slick Rogue Trader

Evening News; Edinburgh (UK) (July 03, 2009)

Author: Gareth Edwards

Linked as:

Summary

A ROGUE trader has been blamed for creating a spike in oil prices which saw them hit their highest level so far this year.

The trader is understood to have placed a major bet on the Brent oil market in June, which resulted in oil prices rising from dollars 71 to dollars 73.50 in just one hour.

See the full content of this document

Extract

Oil Price High Caused by Slick Rogue Trader

The order saw futures contracts for 16 million barrels of oil change hands in just one hour on Tuesday, double the daily p...

See the full content of this document