The New York Mercantile Exchange confirmed that US crude oil futures traded just once in triple figures. One floor trader, seeking bragging rights and a minute of fame, bought 1,000 barrels (at $100), the smallest amount permitted, and sold it immediately for $99.40 at a $600 loss.
Friday, January 4, 2008
Single trader behind $100 a barrel oil record price
The New York Mercantile Exchange confirmed that US crude oil futures traded just once in triple figures. One floor trader, seeking bragging rights and a minute of fame, bought 1,000 barrels (at $100), the smallest amount permitted, and sold it immediately for $99.40 at a $600 loss.
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