The Future of the Futures Market

One factor in determining why we have high oil and gas prices is how drunk oil investors are. No joke. It was recently found out that a drunk broker who worked for the UK-based PVM Oil Futures was responsible for single handedly raising the price of oil to an 8 month high in 2009. During an “alcohol induced blackout,” senior broker Stephen Perkins traded about 7,000,000 barrels of oil worth about $520 million at the time. This caused the price of a barrel of oil to increase by $1.50. The Daily Read more […]