US Oil Market Alert: Supply Glut Signals in West Texas Intermediate (WTI) - Contango Explained
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US Oil Market Alert: Supply Glut Signals in West Texas Intermediate (WTI) - Contango Explained
A key corner of the US oil market is flashing signs of a supply glut, with West Texas Intermediate (WTI) at the Magellan East Houston terminal trading in contango. This bearish structure indicates an oversupply of oil, as later-dated contracts are priced higher than current ones. In this video, we'll break down what contango means, why it's ...
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