Oil Futures Market Finally Signals Supply Tightening

July 7, 2023
Posted by: AliensFaith
Category: OBJECTIVE PRESS

The oil futures market has strengthened this week, signaling that a market tightening could be on the way. Following the latest announcements of fresh supply cuts from OPEC+ leaders Saudi Arabia and Russia, key spreads in the oil derivatives markets have started to show strength, according to Bloomberg’s estimates. Prompt spreads in the futures market have returned to backwardation, from contango. Contango is the state of the market in which prices for delivery at later dates are higher than front-month prices—a…

Author: AliensFaith

HighTech FinTech researcher, university lecturer & Scholar. He is studying his second doctoral degree at the Hague International University. Studying different fields of Sciences gave him a broad understanding of various aspects of life. His recent researches covered AI, Machine-learning & Automation concepts. The Information Technology Skills & Knowledge gave his company a higher position over other regional high-tech consultancy services. The other qualities and activities which can describe him are a Hobbyist Programmer, Achiever, Strategic Thinker, Futuristic person, and Frequent Traveler.

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Oil Futures Market Finally Signals Supply Tightening

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