Oil Traders Aren't Dancing the Crude Contango This Time Around

  • Few tankers storing barrels at sea to profit from price curve
  • Rout driven by ever-expanding glut, not 2008-09 demand shock

A Topsy-Turvy Year for Crude Oil Spreads

Back when the global recession trashed oil demand and prices, the likes of BP Plc and Vitol Group found a novel way to profit: They stashed crude on tankers. With a slump of similar magnitude now, traders are seldom finding the same opportunities.

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