Backwardation in WTI… WSJ – Commodity Research Group

February 8, 2021 by Jim Colburn Leave a Comment

Joe Wallace, WSJ, discusses tightening oil supplies leading to a backwardated price curve, here…

”On Friday, WTI contracts for oil that will be delivered next month cost $5.16 more per barrel than contracts for crude that will change hands in March 2022. That is the biggest premium for front-month futures since the start of the pandemic and contrasts with a historically large discount last April, when a glut of oil pushed WTI prices below zero.”

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