FILE PHOTO: Pump jacks operate at sunset in Midland, Texas, U.S., February 11, 2019. And most likely for three months with another review towards the end of the first quarter. 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. 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. Picture taken February 11, 2019.
The six-month calendar spread for Brent futures is a superior alternative to a three-month postponement.
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The six - month calendar spread for Brent futures is a superior alternative to a three - month postponement .
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