Crude oil traders expect the market to be closer to balance in the next few months as production cuts are implemented and the global transport system emerges from a coronavirus lockdown. <\/p>\n
Futures prices and swaps linked to physical prices show the market has now moved through the worst of the crisis caused by the volume war between Saudi Arabia and Russia and the pandemic-driven collapse in consumption. <\/p>\n
In the futures market, Brent’s six-month calendar spread has narrowed to a contango of less than $5 per barrel in recent days from more than $12 in late April. <\/p>\n
In the swaps market, the six-week calendar spread for dated Brent cargoes has shrunk to a contango of less than $3 per barrel from more than $6 in early April.<\/p>\n","protected":false},"excerpt":{"rendered":"
Crude oil traders expect the market to be closer to balance in the next few months as production cuts are implemented and the global transport system emerges from a coronavirus lockdown. Futures prices and swaps linked to physical prices show the market has now moved through the worst of the crisis caused by the volume war between Saudi Arabia and Russia and the pandemic-driven collapse in consumption. In the futures market, Brent’s six-month calendar spread has narrowed to a contango of less than $5 per barrel in recent days from more than $12 in late April. In the swaps market, […]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[146,130,177],"tags":[],"class_list":["post-351101","post","type-post","status-publish","format-standard","hentry","category-deccan-herald-newspapers","category-newspapers","category-oil-gas-deccan-herald-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/351101","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=351101"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/351101\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=351101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=351101"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=351101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}