As of March 7th: Figure 1: Oil price, monthly average of daily spot, $/bbl (blue), spot close on 3/5 (blue square), and futures price (red +). Source: FRED, Bloomberg, NYMEX via ino.com. Jim on contango and backwardation, which cites Chinn et al. (2005) (an extended version published as Chinn and Coibion (2014). Should we place … Continue reading Oil Prices and Oil Futures