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Don't remind me again today

Last week's crude oil numbers tell an interesting story. The WTI 12-month spread tightened by 30 cents—that's a 49% move—and we're now sitting in contango territory past April. Not exactly bullish signals.



Front-month contracts? Down $2.03, dropping from $60.09 to $58.06. That's roughly a 3% slide in one week ending November 21.

What's happening here is the curve flipping structure. When near-term prices fall harder than deferred months, traders start repositioning. Contango means storage plays might look attractive again, but it also signals weaker immediate demand.

OPEC's probably watching these moves closely. Price pressure at these levels changes the game for production decisions heading into year-end.
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GasBanditvip
· 7h ago
Wow, have oil prices fallen again? A 3% drop in a week directly from 60 to 58, this pace is a bit intense...
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ProbablyNothingvip
· 8h ago
This drop in oil prices is quite interesting. With the contango structure, storage arbitrage is about to become active again? The weak demand signal is so obvious—what OPEC does at the end of the year will be key.
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gas_fee_traumavip
· 8h ago
Oil prices are playing a game again, with the 12-month spread narrowing by 30 cents. Can this still be called interesting? This must be a signal that the market is about to change.
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NotSatoshivip
· 8h ago
The selling pressure is so high that even the near-month contracts have collapsed, yet contango has increased instead... This signal speaks for itself.
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