How Global Oil Prices Were Raised $1.50 by a Drunk Trader

A video on YouTube. In Explainers, a Krater category.

Summary by Krater

This video explains how oil futures work through the hypothetical example of Stephen Perkins trading 500 million dollars in petroleum futures while drunk, causing a massive spike in global oil prices and resulting in legal trouble.

From the video

Answers: How did a drunk trader manipulate global oil futures?

Oil futures trading
Market manipulation
Commodities trading
PVM Oil Futures

What it concludes

Stephen Perkins accidentally increased the global price of oil by trading 500 million dollars in oil futures while drunk.
The Financial Services Authority found Perkins guilty of illegal market manipulation, fined him 72,000 pounds, and banned him from working as a trader for at least 5 years.

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