Keyword: roguebroker

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Keyword: roguebroker

‘Rogue broker’ blamed for oil spike(bailout money at work?)

07/02/2009 10:30:09 PM PDT · by TigerLikesRooster · 11 replies · 899+ views
FT ^ | 07/02/09 | Javier Blas and Izabella Kaminska

‘Rogue broker’ blamed for oil spike By Javier Blas and Izabella Kaminska in London Published: July 2 2009 12:07 | Last updated: July 2 2009 20:26 The startling spike in oil prices to their highest level this year on Tuesday was caused by a rogue broker who placed a massive bet in the Brent oil market, triggering almost $10m (€7m) of losses for his company. PVM Oil Associates, the world’s largest over-the-counter oil brokerage, said on Thursday it had been the “victim of unauthorised trading”. The privately owned company said that as a result of the unauthorised trades it had...

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