MacroVoices #353 Luke Gromen: The Fed Is Headed For Difficult Decisions
Macro Voices
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The WTI Curve Is Moving Into Contango
The front of the WTI curve has moved decisively into Contango. The market is clearly anticipating a collapse in demand due to the coming global recession. Global crude oil inventory, both commercial and strategic petroleum reserves are at generational lows. There are 7 million barrels in the United States this week including the SPR draw.
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