Friday, January 04, 2008

100 dollar oil!

Valleywag, Silicon Valley's Tech Gossip Rag
Lone trader caused 100 dollar price for oil - Yahoo! News
"The magic figure was hit apparently on the back of a single trade, rumoured to be a local intent on fame," Sucden analysts wrote in a commentary Thursday on the record breaking deal.

Arens offered 100,000 dollars on the New York market on Wednesday for 1,000 barrels of oil, producing the much talked of 100 dollars per barrel which sparked anguish across the financial markets.

He later sold on the contract for slightly below 100 dollars, taking a 600 dollar loss.

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