Hey baby, sip that slowly, it's a hundred dollars a barrel.

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Roberta Yafie at the New York Post says everyone was wrong about the hundred dollar purchase heard round the world. She tells us that Richard Arens was the seller of the now famous barrel—not the buyer, as previously reported—and his supposed client is commodities conglomerate Cargill. Her source is “one NYMEX source”
Do you buy it? We’re not sure we do. Does Cargill make minimum order purchases from locals at above market prices? Sounds a bit like Coca Cola buying a really expensive cup of lemonade from your cousin's card board stand just so Cameron can be the hit of the cul-du-sac. Our feeling is that it's most certainly the other way around, with Arens as the cowboy with a strong desire for a legacy.
Crude Trading [New York Post]

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