Inconvenience yield, or the theory of normal contango

  title={Inconvenience yield, or the theory of normal contango},
  author={Ilia Bouchouev},
  journal={Quantitative Finance},
  pages={1773 - 1777}
The relative impact of fundamental imbalances and financial flows on oil prices remains the subject of intense debate among market participants, economists, and policy makers. Proponents of traditional fundamental views blame the oil price spike of 2008—when U.S. crude rose to an all-time high of almost $150 a barrel—primarily on the inability of the global refining industry to cope with the rapid demand growth from emerging markets. Conversely, practitioners tend to point towards additional… Expand
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