Trader Gets Oil Bragging Rights

by guestofaguest · January 3, 2008

traders nymex

[NYMEX Traders]

An oil trader did some flossin' the other day when he drove the price of oil up to $100 in an effort to be the first man ever to purchase the black gold at that price point. The man purchased 1,000 barrels and then immediately sold them at a loss of around $600.

"He paid $600 for the right to tell his grandchildren that he was the first in the world to buy $100 oil." [BBC News]

Well this is certainly cheaper than buying a yacht.