RE:Recent Article Addressing Current ContangoEveryone relax and HOLD, or sell now and lose cash. In a few months, this will work itself out
The extreme contango is a reflection of market expectations that the current grossover supply in crude will work itself out,” Winans told MarketWatch. However, “near term, the imbalance is so great that U.S. oil storage could be exhausted, which really drives near term prices lower.”