Loading…
Brent crude's prompt-versus-six-month spread reached $4.34 a barrel, its most bullish structure since October, as European and African oil markets tightened. The move supports futures prices.
A steeper backwardation signals tighter physical supply, which tends to lift energy input costs for feed production.
reuters.comAlex LawlerFeb 23, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
