It has been an interesting week her on the NYMEX as the flatprice in crude has rallied to new highs at $87 but the wti spreads have weakened considerably especially in the front months as now May/June and June/July have a handle of -63 on it now. Jun/Dec has weakend all the way from -130 to -230. The backs are holding up well with Dec10/Dec11 trading at -135 but this has also come down from -90. Is this a sign that the flatprice will come off in the next few days? It may be a sign but just wait and see what happens on Wednesdays inventroy report.
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