15.04.2009 - Forward oil prices
From FT: Spot oil prices, now just above $50 a barrel, usually attract all the attention. Recently, however, the price movements in some far forward contracts have been more dramatic, with prices hovering at a five-month high of about $80 a barrel. Take the West Texas Intermediate contract for delivery in December 2015, a relatively liquid future used as a proxy for long-term prices, which closed last week at $79.8 a barrel, the same level as 18 months ago. Spot prices, meanwhile, are at levels of four years ago......Full Article: Source
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