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A comment on I tried to buy an actual barrel of crude oil (2015). Parent comment

Re:I tried to buy an actual barrel of crude oil (2015) by A4ET8a8uTh0 on Monday April 20, 2020 @03:21PM (#22927356)
Does it happen often that future contract falls into negative territory?
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Re:I tried to buy an actual barrel of crude oil (2015) by asib on Monday April 20, 2020 @03:27PM (#22927442)
No, this is the first time since oil futures began trading in 1983.
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Re:I tried to buy an actual barrel of crude oil (2015) by bhl on Monday April 20, 2020 @05:56PM (#22929117)
The technical term for this is contango [1]. Last time this happened to crude oil was after the GFC, as mentioned in the article.

[1] https://en.wikipedia.org/wiki/Contango#Description

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Re:I tried to buy an actual barrel of crude oil (2015) by juped on Monday April 20, 2020 @10:45PM (#22931313)
Contango means that futures prices further out are higher than futures prices in the nearer term, and is normal for oil futures; what's notable is the extreme slope of the futures curve we're seeing.
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