Updated Saturday, July 4, 2009 11:41 am TWN, AP

PVM oil brokerage loses US$10 mil. on rogue trades

LONDON -- PVM Oil Associates, the world's biggest over-the-counter oil brokerage, says it lost nearly US$10 million this week because of unauthorized trades that caused a temporary spike in Brent crude markets. The firm said in a statement late Thursday that it was investigating the trades, which drove up the price of Brent futures by more than US$2 in one hour early Tuesday London time.

Subscribe to The China Post and save 25%. Click here

Share

Print

Email

Company Focus Breaking News

Updated Sunday, November 8, 2009 12:11 am TWN
▪	GM in talks with Chinese partners to bring their cars to India: report
▪	Berkshire Hathaway says Q3 profit triples to US$3.2 bil.
▪	Ford creates an inflatable seat belt for back-seat passengers
▪	Hermes revenue goes up 10 percent in 3rd quarter
▪	Chi Mei says no mass worker movement to TCL

Most Read

▪	Premier Wu will quit if allegations proven
▪	U.S. army post shooting rampage leaves 13 dead
▪	TAIEX index up 45.59 points on Wall St. rally, looming ECFA
▪	U.S. jobless rate tops 10 percent
▪	IMF chief to travel to Singapore, China this month

Sponsors
▪	Get Car Hire Asia, Thailand, Middle East, Cyprus, Dubai, USA
▪	Business Directory
▪	Taiwan Classifieds - Teaching jobs, apartments, personals