Single trader behind oil record

Talk about more money then sense...

The man behind the record rise in oil prices to $100 a barrel was a lone trader, seeking bragging rights and a minute of fame, market watchers say.

A single trader bid up the price by buying a modest lot and then sold it immediately at a loss, they said.

The New York Mercantile Exchange confirmed that US crude oil futures traded just once in triple figures.

One floor trader bought 1,000 barrels, the smallest amount permitted, and sold it immediately for $99.40 at a $600 loss.

"He paid $600 for the right to tell his grandchildren that he was the first in the world to buy $100 oil."