Whether the weakness persists will show up first in structure and stocks: if spreads settle into contango alongside continued builds, the surplus is physically real and durable; if spreads snap back to backwardation as maintenance ends and cargoes clear, the surplus was uneven and transitory. Oil prices sit near five-month lows after the International Energy […] The post Oil’s Five-Month Slide and the Surplus Story: What Backwardation and Contango Are Signaling Now appeared first on Oklah...
