Richard Arens

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Richard Arens is a broker at the NYMEX. He was the first one to buy a barrel of crude oil for more than 100 Dollars on January 2, 2008.

[edit] The Oil Price of 100 $

Arens bought through his one-man-company ABS on January 2, 2008 1000 barrels of crude oil for 100.000$, resulting in 100$/barrel. He shortly after that sold his oil, making a total loss of 600$.