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The technical term for this is contango [1]. Last time this happened to crude oil was after the GFC, as mentioned in the article. [1] https://en.wikipedia.org/
by bhl 6y ago
The technical term for this is contango [1]. Last time this happened to crude oil was after the GFC, as mentioned in the article.
[1] https://en.wikipedia.org/wiki/Contango#Description https://en.wikipedia.org/wiki/Contango#Description
- juped 6y agoContango means that futures prices further out are higher than futures prices in the nearer term, and is normal for oil futures; what's notable is the extreme slope of the futures curve we're seeing.