In One Chart: Fears of a COVID-inspired crude oil glut? Fading ‘contango’ tells a different story

Rising COVID-19 cases raise the specter of another global glut of crude oil. But spreads between near- and far-dated oil futures are telling a different story.

Rising COVID-19 cases raise the specter of another global glut of crude oil. But spreads between near- and far-dated oil futures are telling a different story.