Traders Expect Much Tighter Oil Markets In Early 2018

Optimism among oil traders seems to be rising based on Brent calendar spreads, according to Reuters market analyst John Kemp. He notes in a recent column that said spreads have begun moving from contango to backwardation, with the spreads for November to December 2017 and for January to February 2018 already in backwardation. What’s more, Kemp says, the Brent inter-month spreads for the rest of 2018 look flat for the time being, suggesting that traders expect a tighter oil market. Supporting this belief, the Brent spread for the first half…

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