Gulf War and supercycle are career highlights, says Saperia

Veteran oil trader reflects on industry transformed in 30-year career

Nigel Saperia
Nigel Saperia

Veteran oil trader Nigel Saperia says there are two particularly exhilarating moments that stand out from his career. The first was the invasion of Kuwait by Saddam Hussein's Iraq in 1990, which sparked the first Gulf War. From a level of just $17.50 per barrel (/bbl) at the beginning of June that year, the price of front-month West Texas Intermediate crude oil traded on the New York Mercantile Exchange (Nymex) had rocketed to $40.42/bbl by October 11, 1990, according to the US Energy

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