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A lone trader out to win a little fame made the purchase that took oil prices to the historic 100 dollars a barrel level this week but he lost 600 dollars on the deal, analysts said.
The trader has been named by US and British media as Richard Arens who runs a one man oil brokerage, ABS.
"The magic figure was hit apparently on the back of a single trade, rumoured to be a local intent on fame," Sucden analysts wrote in a commentary Thursday on the record breaking deal.