I dont understand. Spot and contract converged along time ago. What is happening now is that contracted vols are being sold above spot prices and they wont converge again until spot ticks up. This is how the pricing mechanism works.
The quarterly is going to show 13%+ decline in realised prices. This is why I dont understand why the Q "...prices will settle the nerves". That would exacerbate fears wouldnt it, as prices are falling?
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