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 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. 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. We cannot go back to the old normal of inequality, injustice and heedless dominion over the Earth, he said. This is the one chance we have.
Taking physical traders and portfolio managers to task.
( z0 take :ARG1 ( z1 and :op ( z2 person :ARG0-of ( z3 trade :mod ( z4 physical ) ) ) :op ( z5 person :ARG0-of ( z6 manage :ARG1 ( z7 portfolio ) ) ) ) :ARG2 ( z8 task :ARG1 z1 ) )
(z0 / take-01
    :ARG1 (z1 / and
              :op1 (z2 / person
                       :ARG0-of (z3 / trade-01
                                    :mod (z4 / physical)))
              :op2 (z5 / person
                       :ARG0-of (z6 / manage-01
                                    :ARG1 (z7 / portfolio))))
    :ARG2 (z8 / task-01
              :ARG1 z1))
Taking physical traders and portfolio managers to task .
z2 :ARG0-of z3
z3 :mod z4
z1 :op1 z2
z0 :ARG1 z1
z1 :op2 z5
z5 :ARG0-of z6
z6 :ARG1 z7
z8 :ARG1 z1
z0 :ARG2 z8