Futures prices are making it increasingly profitable to store surplus crude in the United States, coinciding with a strong period of oil imports and a further build up of already swollen stockpiles. WTI crude futures prices imply the market is paying more than 61 cents per month to cover the cost of financing and storing oil at the Cushing delivery hub during the fourth quarter of 2015. The WTI contango for the fourth quarter of 2015 has tripled from less than 20 cents per month at the start of June. Over the same period, the contango for fourth-quarter Brent has increased by much less, from 37 cents to 48 cents per month ( link.reuters.com/puc35w ). It has become more profitable to store oil in the United States in a “cash and […]