Crude Oil... BACK IN CONTANGO!
From Greg M
Lions and friends…
Crude oil is under HEAVY pressure as it has fallen back into Contango.
Contango is a situation where the futures price (or forward price) of a commodity is higher than the expected spot price of the contract at maturity.
This also means that traders are betting on the price of crude being higher in the future.
GM
TY Mr. Mannerino for defining the Term.
With Russian Sanctions driving fracture of Globalization into Multi Polarity and BRICS it will be increasing difficult to Price Oil and other Commodities in Dollars Globally.
the contango will end once oil is tokenized and traded on the new system... whatever that is called.