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Pantherina@feddit.de to linuxmemes@lemmy.world · 1 year ago

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Pantherina@feddit.de to linuxmemes@lemmy.world · 1 year ago
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  • Possibly linux@lemmy.zip
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    1 year ago

    Fun fact there was a guy a little over a decade ago who got drunk and traded 7m barrels of oil futures. Not dollars, barrels. He made the price of oil jump up for a short while.

    https://www.theguardian.com/business/2010/jun/29/drunk-oil-trader-banned-fsa

    • DAMunzy@lemmy.dbzer0.com
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      1 year ago

      Funnier Fact: they had to stack all those barrels behind the corporation’s building until they could sell them all.

      ::I made this up::

      • fogstormberry@lemmy.blahaj.zone
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        1 year ago

        the best source

        • DAMunzy@lemmy.dbzer0.com
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          1 year ago

          Artisanal sourced. With an emphasis on anal.

      • Empricorn@feddit.nl
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        1 year ago

        Does that butt have any other fun facts up there?

        • DAMunzy@lemmy.dbzer0.com
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          1 year ago

          The roller coaster was invented during the Hundred Years’ War as a way of launching supplies across rivers.

          Disclaimer: I’m stealing these fake fun facts from other people.

      • Possibly linux@lemmy.zip
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        1 year ago

        Actually a oil future is basically a promise to make oil for a certain price. There are also are vegetable futures

        That means the oil wasn’t produced yet

        • DAMunzy@lemmy.dbzer0.com
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          1 year ago

          I know. I was just joshing and tossing fake facts around. 😉

          • milicent_bystandr@lemm.ee
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            1 year ago

            But I do remember a story (on daily wtf) where a lady bought coal futures and somehow forgot or didn’t manage to sell, and a coal barge turned up in the river behind her office!

        • FiniteBanjo@lemmy.today
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          1 year ago

          Also, Crude Barrels have a shelf life so you definitely wouldn’t store them like that for any extended period of time.

          • Possibly linux@lemmy.zip
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            1 year ago

            A future means that they will be created at some point in the future. Basically its an agreement to buy for a certain price in the future regardless of what the markets are doing.

            • FiniteBanjo@lemmy.today
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              1 year ago

              Yes you said exactly that in the comment I replied to, I never argued against it I was just adding onto it. We both were talking about how unrealistic the comment further above yours was.

    • faintwhenfree@lemmus.org
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      1 year ago

      Well he was 69% of all traded volume… nice!!

      • Possibly linux@lemmy.zip
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        1 year ago

        Isn’t that wild?

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