Oil traders are betting that longer-term crude prices could be set to spike because of a lack of investment in future supply.
Since hitting their high for the year last month, the most-active oil futures have fallen almost 5%. By comparison, those for late 2022 and 2023 have barely moved, sticking above $70 a barrel.
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November 24, 2021 at 09:44PM
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Oil Traders Pile Into $70-a-Barrel Longer-Term Crude Price - Bloomberg
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