Saturday 4 July 2009

'Rogue oil trader loses his firm £6million by single-handedly pushing price to eight-month high'

Daily Mail
"A suspected rogue trader allegedly caused a British oil broker to lose £6million by making unauthorised deals.The trader, believed to be Steve Perkins, was blamed for pushing prices to an eight-month high.He has now been suspended by his firm, London-based PVM Oil Futures, which places bets on the future price of the commodity."
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The "rogue trader" who is suspected of moving the price of oil by up to $2 on Tuesday would have cost his employer $650m (£400m) if the trade had not been discovered and closed, according to sources. (Telegraph)

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