Single trader behind oil record (BBC)

[eppur_se_muova]

The man behind the record rise in oil prices to $100 a barrel was a lone trader, seeking bragging rights and a minute of fame, market watchers say.

A single trader bid up the price by buying a modest lot and then sold it immediately at a loss, they claim.

The New York Mercantile Exchange said that US crude oil futures traded just once in triple figures on Wednesday.

Some analysts questioned the validity of the trade, though their concerns faded as oil set a record on Thursday.

New York light sweet crude climbed to a new high of $100.05 a barrel on Thursday.
***
more: http://news.bbc.co.uk/2/hi/business/7169543.stm

[Gman]

1. Irresponsible asshole

[ret5hd]

2. If a single trader buying then selling "a modest lot" throws such a wrench...

in a multi-billion dollar market that he can logically be called an "Irresponsible asshole", then i offer that the problem may lie more with the market itself than with the so-called "Irresponsible asshole".

Just sayin'.

[Rex]

3. What a joke.

Joke Street

[whatdoyouthink]

4. Becoming a Game for them

Only Killing US