Slick investors strike riches as they cash in on peak oil

Retail investors have joined a raft of hedge funds and pension funds in making millions of pounds by cashing in on the oil crisis.

Thousands of individual investors have piled into oil futures and have made as much as 200 per cent returns as the oil price soared to record highs in recent weeks.

Last week oil prices jumped 7 per cent, breaking three records and touching $135 a barrel on Thursday on new fears that supply is outstripping demand.

Clive Cooke, chief executive of City Index, the financial spread betting firm, said: “We’ve seen a big switch into oil – it is now by far the biggest trade at the moment.”

Telegraph