* Brent contango for 1-12 months at six-month high of $8/barrel
* Curve steepening led by longer-dated contracts
* Fund managers add to bullish bets on crude oil
My opinion, if the like of Reuters is reporting, you can expect a spike. But, I think it will be short-lived. The article does sorta say the same and that you could wait a few months. However, i still think the signs are still there for a sustained drop. In any case, I can’t imagine it getting too much lower. It should eventually rebound to much higher levels. If you can wait for the long-term (1-2 years), why no jump in.