Brent crude futures for delivery in November on Tuesday traded below $100 per barrel for the first time since mid-May, according to Refinitiv Eikon data, highlighting a market structure that signals a tight oil market in the short term. Crude futures going beyond November, to at least the middle of next year, all traded below $100 per barrel on Tuesday. Oil futures have been backwardated, a structure in which the current price of oil trades at a higher level than further-out contracts. Front-month oil contracts , plummeted by about $10 a barrel on Tuesday on concerns of a looming global recession curtailing demand, even with expected supply disruptions as oil and gas workers in Norway began to strike. The oil market has been contending with […]