Physical traders and portfolio managers have started to price in a high probability of a rollover in recent weeks, which has helped to support spot prices and calendar spreads despite the worsening epidemic. 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. 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.
None of these alternatives is clearly superior to a three-week postponement, which is therefore the most likely outcome of the participants of Texas.
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                                               :ARG0-of (z5 / participate-01
                                                            :location (z6 / state
                                                                          :name (z7 / name
                                                                                    :op1 "Texas")))))
                           :ARG2-of (z8 / have-degree-91
                                        :ARG1 z3
                                        :ARG3 (z9 / most))))
    :ARG1 (z10 / alternative
               :quant (z11 / none)
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    :ARG1-of (z13 / clear-06)
    :ARG2 (z14 / postpone-01
               :ARG2 (z15 / temporal-quantity
                          :quant 3
                          :unit (z16 / week))))
None of these alternatives is clearly superior to a three - week postponement , which is therefore the most likely outcome of the participants of Texas .
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