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I don't get it. How come converge? Right now for ex. GCLJ4 is 96.84 and GCLQ4 is 93.90, which is a nice 3$/bbl discount for oil to just sit for only 4 months waiting a peek-demand season. Who needs April crude so much to pay this premium??

Maybe in 3 years time lol :) But how the heck you explain that spring months are priced considerably higher than summer months?? Demand is (seasonally) shit in spring and good in summer due to driving season. It's not that we have a booming economy right this month either lol Stocks...

I really don't get this stubbornly backwardated market. What kind of tightness we face to justify almost 1$ price difference between months? If you look Brent, the futures curve is much less steep. With WTI looking 12 months ahead, you get oil 7$ cheaper, so why those (overfilled) tankers are...

I've noticed that there is practically no option liquidity on the market for this month and that trading volumes are subdued day-after-day; however other months around (July and then September) are quite liquid and the volumes are relatively rich... What's so particular about August crude...