Further to the last post, here’s a Bloomberg chart that captures well what’s happening in the oil complex away from the expiring front contract. The downward pressure is confirmed by the sharp drop in Brent oil which is down hard this morning. Per last night’s post, broader implications, especially if this continues, include higher risk of some corporate/sovereign defaults, job losses, cross-market contagion, etc... #oil #markets #economy #volatility #bloomberg …see more