Last Months Loaf Of Bread…
U.S. oil futures have dropped to their lowest since early 2002, but its the price spread between the front-month and future-month deliveries that’s caught investors’ attention this week.
Contango Vs Backwardation
On Friday, May WTI crude, which expires at Tuesday’s settlement, settled at $18.27 a barrel on the New York Mercantile Exchange.
The June contract, which will become the front month at May’s expiration, was at $28.08.
https://www.marketwatch.com/story/oil-market-in-super-contango-underlines-storage-fears-as-coronavirus-destroys-crude-demand-2020-04-17