Gold Silver Reports — Crude Oil Market Signal Turns Bullish — Forward prices for crude oil are signaling tightening supply for the first time since the market crashed in 2014.
The price difference for Brent for immediate delivery and the one-year forward flipped to a premium on Tuesday for the first time in about 2 1/2 years, according to data from ICE Futures Europe. The switch into what’s known as backwardation reflects a short-term tightening in supply, as well as producers selling later contracts to lock in future revenue, according to Nick Williams, a commodity futures broker at GF Financial Markets in London.
