HOUSTON (Reuters) -Front-month U.S. crude oil futures ended Monday's trading at their smallest premium since January 2024 over the seventh-month contract, as OPEC+ ramps up supply while seasonal ...
The prospect of a contango is casting a shadow over oil markets, with the entire 2026 WTI futures curve now trading below $60 per barrel—beneath breakeven levels for most new shale wells.
In war scenarios, nearby oil contracts rally faster than deferred ones, steepening backwardation as traders scramble for prompt barrels.