Sodel Vlayslav/Shutterstock Save for later Print Download Share LinkedIn Twitter The global supply and demand balance is murky and the future uncertain, but time spreads in Brent futures contracts say this crude market is getting tighter. The crucial six-months Brent spread between the front-month futures contract and delivery six months later shows that the prompt premium has again widened from a December low of 45¢ per barrel to $1.14/bbl in January and $2.15/bbl in the first two weeks of February. The front-month Brent futures contract is trading April and the time spread covers the period through September, by which time the world will have more clarity on how Russian exports have responded to European Union sanctions and how oil consumption in China looks.
