The six-month calendar spread for Brent futures is currently in a contango of $1.90, which is in the 24th percentile for all trading days since 1990, again indicating that the market is expected to remain well-supplied. None of these alternatives is clearly superior to a three-month postponement, which is therefore the most likely outcome from the meetings over Nov. 30 and Dec. 1. Picture taken February 11, 2019. FILE PHOTO: Pump jacks operate at sunset in Midland, Texas, U.S., February 11, 2019. The five-week calendar spread for dated Brent is currently trading in a contango of 70 cents a barrel, which is in the 16th percentile for all trading days since 2010, indicating physical crude supplies remain plentiful.
Brent prices need to remain constant.
( z0 obligate :ARG2 ( z1 remain :ARG1 ( z2 thing :ARG2-of ( z3 price :ARG1 ( z4 oil ) ) ) :ARG3 ( z5 constant ) ) )
(z0 / obligate-01
    :ARG2 (z1 / remain-01
              :ARG1 (z2 / thing
                        :ARG2-of (z3 / price-01
                                     :ARG1 (z4 / oil)))
              :ARG3 (z5 / constant)))
Brent prices need to remain constant .
z2 :ARG2-of z3
z3 :ARG1 z4
z0 :ARG2 z1
z1 :ARG1 z2
z1 :ARG3 z5