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OILX - Toilet Paper And Crude Oil- Get Those Salt Caves Ready
UBS AG London Branch ZC SP ETRACS REDEEM 22/02/2046 USD 25 - Ser B
Commodity traders employ two terms to describe the state of the forward curve, which is the difference between prices for future delivery dates. Backwardation is a condition where deferred prices are lower than nearby values. A backwardated market is a sign that nearby demand is higher than the current level of supplies.
Contango occurs when deferred prices trade at a premium to nearby prices, which indicates that supplies outstrip demand. The decline in demand on the back of the global pandemic caused the global economy to grind to a sudden halt. In early March, OPEC