ICE Brent Z17Z18 spread "died" yesterday, for almost 24 hours it's 7-8 ticks range and we are after inventories, don't remember such situation in the past. Does anyone expecting some major move on the Brent curve or we are done for the year? I mean back of the curve, as there is a lot of fun on the front last couple days.
Your chart is Dec18/Dec19...Dec17 expired ~45 days ago. Stats won't affect the curve very much 10 months forward.
Yes, sorry, my mistake Z18Z19. I know that there is little impact on back of the curve. But after some more outright volatility I just was expecting something on 'backs'. You know expectations - the main enemy of every trader.
Near-front volatility was mostly driven by unexpected closure of Forties pipeline. As this should be repaired in a matter of weeks, I would not expect the back end of the curve to be impacted to the same extent.