Oil Contango Soars –

The storage costs for oil are soaring and are currently at the highest level in nearly four months.  Inventories are at a near record high and the premium for future delivery is around the same cost as storage.  The rising levels of Canadian crude are  putting some of the pressure on the storage levels.

To read a related Bloomberg article, please click here:

http://www.bloomberg.com/apps/news?pid=20601087&sid=ayqOVAEyKd_w&pos=6

Jim Sutliff

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