New York-The crude curve on the New York Mercantile Exchange moved deeper into contango January 15, with the front-month spread moving to record wide levels, reflecting increasingly bearish fundamentals at the contract delivery point of Cushing, Oklahoma. NYMEX February crude futures settled $1.88 lower at $35.40/barrel. The February/March spread settled at minus $8.14/b after settling the prior day’s session at minus $6.91/b. The March/April spread settled at minus $4.57/b, from minus $4.09/b the prior day.
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