Quote:
| Originally Posted by Codger The infinite possibilities for mis-understanding a tanker captain somewhere in Indonesia on a useless sat phone. He's been re-directed twice in the last 72 hours as to where he's going to unload. Guess the spot pricing right now is all over the map.
Working a trading desk on the oil spot market right now is a younger man's game. |
You sound like a knowledgeable oil guy. With future oil currently higher than spot, i.e.,
in contango, and the reverse of which is
backwardation, who/how/why did those odd-sounding terms come to be anyway?