Correlation with oil price futures??????, page-90

Contango is the norm for all futures contracts. It's usually the carry cost (interest rates, storage costs, insurance etc) added onto the spot price, +- blue sky. However, with the oil contract the contango got very steep. This ETF is currently an etf of long Sept contract in oil WTI. Sure futures contracts can also go into backwardation, and that might still happen with the WTI sometime down the track. The question is can a non thinking long position be taken in the futures market and still make money? So when you see synthetic describing an etf, it might be time for a cold shower )