Single trader behind $100 a barrel oil record price

The New York Mercantile Exchange confirmed that US crude oil futures traded just once in triple figures. One floor trader, seeking bragging rights and a minute of fame, bought 1,000 barrels (at $100), the smallest amount permitted, and sold it immediately for $99.40 at a $600 loss. The man behind the record rise in oil prices to $100 a barrel was a lone trader, seeking bragging rights and a minute of fame, market watchers say. A single trader bid up the price by buying a modest lot and then sold it immediately at a loss, they claim. The New York Mercantile Exchange said that US crude oil futures traded just once in triple figures on Wednesday. Some analysts questioned the validity of the trade, though their concerns faded as oil set a record on Thursday. New York light sweet crude climbed to a new high of $100.05 a barrel on Thursday.

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