Bytes and barrels: the origins of oil traders’ love of Yahoo

For the oil industry, Yahoo Inc's decision this week to sell its core business to Verizon Communications Inc for $4.8 billion does not matter all that much. Back then, Yahoo's technology revolutionized the industry, helping usher in a new era of high-speed communication that changed the way millions of barrels of oil traded daily. For Gene Grabinski, who was trading crude in Chicago for BP Plc , one of the largest energy companies in the world, it was just the solution needed to stem the endless flood of phone calls as he bought and sold crude in the Midwest and U.S. Gulf.

Original story here.

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