<ul data-eligibleForWebStory="true"><li>Concerns over Israel's strike on Iran are strengthening the oil futures curve.</li><li>Front-month Brent prices surged by up to 13% alongside movement for contracts further out.</li><li>The typical contango structure signaling loose balances long-term has disappeared.</li><li>The spread between two nearest December Brent contracts flipped to backwardation at $2.30 per barrel.</li><li>Various timespreads, including Brent's prompt spread, have rallied significantly.</li><li>Oil options are very bullish due to a potential escalation in Mideast conflict, with implied volatility higher.</li><li>Warren Patterson from ING Groep NV warns of potential disruptions to oil flows through the Strait of Hormuz.</li><li>A significant disruption could push oil prices to $120 a barrel; Brent futures currently near $75 a barrel.</li></ul>

Oil Curve Shift Shows Fears Of Protracted Mideast Conflict

Discover more