Energy trader's version of pump and dump?

Posted by Keith Hahn, May 30, 2007, 2:08pm

fire.jpg A reader tipped us off to the following energy market shake up this afternoon regarding oil prices. US crude prices shot up 40 cents when a Tulsa, Oklahoma television station reported on its website that a regional refinery was on fire from a lightning strike. The only problem - there was no fire, save for the pants of the KOTV webmaster (Brain Hunter, as part of Solengo's new macro event-driven strategy).

Web site error rocks global oil markets [Reuters]

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Posted in: Oil

Comments

Posted by pete, May 30, 2007 2:46PM

I thought we were witnessing the beginning of a great relationship between dealbreaker and Solengo. Sadly, we've seen no solengo news in weeks.

Posted by Jason, May 30, 2007 5:15PM

The funny thing is a refinery fire should lower oil prices and raise the price of the refined product, presumably gasoline. If a refinery can't run there is less demand for the input. And they make millions with this expert analysis...

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