Fri, Jul 3rd, 2009
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LONDON - PVM Oil Associates, the world's biggest over-the-counter oil brokerage, says it lost nearly $10 million this week because of unauthorized trades that caused a temporary spike in Brent crude markets.
The firm said in a statement late Thursday that it was investigating the trades, which drove up the price of Brent futures by more than $2 in one hour early Tuesday London time. It did not identify the trader involved in the transactions.
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Rogue broker blamed for oil spike - Oil & energy- msnbc.
PVM Oil Associates, the world's biggest over-the-counter oil brokerage, says it lost nearly $10 million this week because of unauthorized trades that caused a temporary spike in Brent crude markets.(Business & Finance)
gjgoweyThu, Aug 20th, 20094 Diggs, 0 CommentsRogue Trades Blamed for Year-High Oil Spike - International
Rogue Trades Blamed for Year-High Oil Spike, PVM Oil Futures, a London-based division of the world's biggest broker of over-the-counter derivatives, has lost almost $10 million after falling foul of a rogue trader.(Political News)
MinarchianFri, Jul 3rd, 20091 Diggs, 1 Comments‘Rogue broker’ blamed for oil spike
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. (Business & Finance)
TruthinessSpyFri, Jul 3rd, 20093 Diggs, 2 Comments
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