Replies to post #21581 on The Rising Influence of Rising Affluence

[xavierprivas]

I am not an expert but from my research the oil price quoted by Bloomberg and
Marketwatch is the future contract price (I think for 1 month delivery but I could
be wrong). Javier Blas is probably quoting the spot oil price, which is the
price per barrel if you buy oil at this instant and take delivery immediately.
The oil market is in contango (price going down) vs backwardation (price going up).