Loading…
A Reuters column by Kemp says oil prices are back roughly where they started despite repeated OPEC and non-OPEC meetings and monitoring. It describes the market's slow move from contango toward backwardation.
A shift toward backwardation signals tighter near-term supply relative to demand. This is background for crude price direction, with no immediate new supply or demand change.
reuters.comAug 17, 2017Not 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.
