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This sort of phenomenon can be seen lots of times throughout the past decades. Anytime oil falls below a certain price, it becomes cheaper to pay to keep the sh
by washedup 11y ago
This sort of phenomenon can be seen lots of times throughout the past decades. Anytime oil falls below a certain price, it becomes cheaper to pay to keep the ships running offshore under the assumption that oil prices will increase in the near term.
- toomuchtodo 11y agoIt's called "Contango". http://www.bloombergview.com/articles/2015-03-31/how-oil-markets-came-to-embrace-contango http://www.bloombergview.com/articles/2015-03-31/how-oil-mar...
- kelvin0 11y agoMakes sense to me, why the downvotes? Maybe missing some references to back up his claim?