‘Rogue broker’ blamed for oil spike

Posted on 03. Jul, 2009 by Shera Crossan in Audio-Video, Business & Finance, Commentary, Economy, Feedback, Shera Crossan, Top Stories

PVM Oil Associates, the world’s largest over-the-counter oil brokerage, said on Thursday it had been the “victim of unauthorised trading”. The privately owned company said that as a result of the unauthorised trades it had been forced to close substantial volumes of futures contracts at a loss. Oil traders in London and New York said [...]