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oil price increase

GLOBAL OIL PRICE MOVED BY A FEW BEERS

IMAGINE. It’s the morning after a big night out on the town. You’re at home. You’re in bed. You’re wondering whether you’ll get away with calling in sick. The phone goes and it’s your employer asking what you did last night with over $500m of its money.

Blimey, that’s a lot of Krug! No wonder the head hurts.

But no, you got back from the pub and instead of doing what the rest of us do after a big night out (cheese on toast by the way), you logged on to your laptop and started trading. A couple of hours later, you were responsible for 69% of the global market volume in crude oil futures and had moved the global price of oil by over a dollar fifty a barrel. Ouch!

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