MARKET EYE: US Spot Crude Prices Strengthen

摘要

Spot prices for benchmark West Texas Intermediate (WTI) crude - the key grade deliverable into the Nymex contract - and European benchmark Brent have been strengthening over the past couple of weeks.Furthermore, the forward curves for both Brent and Nymex have been flattening, causing speculation that the contango market structure may be about to flip. When a price curve is in contango, prompt crude is priced at a discount versus later deliveries.