TransCanada »

  • Commodities » Strong Gulf Contago Benefits Refiners
    March 21, 2014, 14:09 GMT

    The backwardation that has perpetuated in WTI crude oil is a function of the large draws seen in Cushing Oklahoma over the past 3-months. The draws in Cushing have created a large backwardation in the term structure of WTI crude oil which is not reflected in Gulf crudes. Currently, the December 2014 futures contracts minus