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FT.com / Companies / Oil & Gas - ‘Rogue broker’ blamed for oil spike

FT Alphaville found this 7/3/2009 on ft.com

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 ...