Ok I'll spell it out.
If you are a producer or an oil physical broker perhaps & the price of Brent is say $60/bbl.
However the one year forward price is $68/bbl.
The cost to store oil for 1 year is $1-2/bbl.
So why sell your oil now? Why not store it for a year & make an extra $6-7/bbl.
Make sense?
POO is AUD$70, page-160
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