Oil Curve Trades Most Bullish Since 2014, Buttressing $60 Brent
- Key indicators surge as stocks slide, political tensions rise
- OPEC and allies expected to rollover output cuts next month
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The oil curve, a closely watched barometer of supply tightness in the crude market, is trading at its most bullish in more than three years and buttressing Brent futures’ rally through $60 a barrel.
Brent futures for December 2017 are now treading at a premium of more than $2 to those for a year later, while December 2018 futures are about $1.50 more expensive than for the same month in 2019. In both cases, the premium for the nearer contract is the biggest since early 2014, when prices were above $100 a barrel, in a sign that the traders sees supply tightening.