# Goodbye contango? Oil's long march towards backwardation: Kemp

> 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.

- Date: 2017-08-17 · published 2017-08-17T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/69646-goodbye-contango-oil-s-long-march-towards-backwardation-kemp
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

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.

## Read by commodity

- BRENT: neutral

## Sources

- reuters.com: https://www.reuters.com/article/business/energy/goodbye-contango-oils-long-march-towards-backwardation-kemp-idUSL8N1L22GU/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.