The Oil Hub Where Traders Are Making Millions

Welcome to Cushing, Okla., where the oil is backed up and the traders are making millions
By
Matthew Philips
Photograph by Daniel Shea for Bloomberg Businessweek

Tugboat pilot Barry Meredith hauls barges of oil as big as football fields for a living. He calls his route “the loop,” which starts with him guiding his boat and two empty 300-foot barges into the Port of Catoosa, outside Tulsa, Okla. Meredith steers toward a cluster of seven storage tanks brimming with crude that’s been trucked in from wells in Oklahoma and Kansas.

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