Alan K. Henderson's Weblog

HOME   |   BLOGGER PROFILE   |   BLOGROLL  MAP   |   HENDERSON  PRIZE   |   EMAIL

COMMENTS TEMPORARILY CLOSED - MIGRATING FROM HALOSCAN/ECHO TO DISQUS
Old comments migrated to Disqus, currently working outtechnical issues

Monday, January 07, 2008

 
The Rest Of The Story

What was it that catapulted oil to ever so briefly rise above $100 per barrel?

On Wednesday, one floor trader bought 1,000 barrels, the smallest amount permitted, and sold it immediately for $99.40 at a $600 loss, said Stephen Schork, a former floor trader on the New York Mercantile Exchange (Nymex) and the editor of an oil market newsletter.

"They absolutely overpaid," he told Radio Four's Today Programme.

"He paid $600 for the right to tell his grandchildren that he was the first in the world to buy $100 oil."

Labels:




Site Meter


Blogger