For oil bulls who were disheartened by Brent crude’s dire plunge of about 25% over the past few weeks, its forward curve off ers a silver lining, according to Bloomberg. Prices of the global benchmark’s later-dated contracts remain supported due to supply shortage fears.
The curve’s back-end didn’t fall as much as prompt contracts, emerging “relatively unscathed” from the recent sell-off , due largely to years of insuff icient upstream capital expenditures, according to Konstantinos Venetis, a senior economist at TS Lombard.
