Tuesday, September 23, 2008

Spot Life CL Oct 08 (entire)

Well, it sure looks as if the October contract will live on in the memories of many. Explanations given so far for the weird disconnect between the spot price and the rest of the futures contracts pretty much don't say much that fits the evidence outside of some guys got squeezed ... and the market was very shallow.

Here is what the Euro was doing during the Oct 08's spot life (interbank rate):

And here are forward differentials ... heh, some's gonna have some fun explaining this to all and sundry (like, for example, the US Senate) ...hard to see, given the day of expiry, but differentials narrowing further ...

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