Singapore 92 RON swaps curve in steep contango

摘要

Singapore—The prompt inter-month time spread for FOB Singapore 92 RON gasoline swaps widened almost to a five-year low on Monday due to weak demand, traders said Tuesday. The February/March spread was assessed at a contango of 80 cents/barrel Monday, widening from 65 cents/b at Friday’s close. The prompt inter-month time spread was last assessed lower on February 24, 2010, at minus 85 cents/b. A deep contango indicates surplus barrels and weaker demand for prompt cargoes versus the later month.