Drop? What drop? If you look at the back months, there was a move closer to contango.

Dec 2010

We've been moving fairly steadily and consistently back towards contango for the past three weeks or so now. I'm kind of surprised no one mentioned it before.

Anyone want to punt on what it means, or will mean? Anyone want to suggest we won't be in contango in a few weeks time?

Been watching that myself.

Could be a short-term effect, much like it has been in the past when prices drop pretty quickly on the front-month. Except for last year, the contango periods have been pretty short.

Brent is also back to trading at a slight premium to WTI on the spot market (it spent nearly 5 months that way in early 2007, said to be caused by full storage tanks at Cushing).

I think you pretty much hit it on the head. It's always a punt. Ain't no tellin. You follow Bloomberg analyst tallies on Thursdays?

Watch the Imarex tanker future rates curve.

There are those who claim the Imarex rates rates in July foretold today. Check Motley Fool. I'll print it if you don't believe me.

If you have a Bloomberg "terminal" you can check Imarex rates daily. Anybody have a Bloomberg terminal and would like to help us out?

Maybe TOD can get a feed.