The WTI super-contango is back, which incidentally also implies the inevitable return of so-called âCushing syndromeâ - a term nicely coined by JBC Energy, as it happens. On Thursday, US inventory data showed that Cushing stocks â the delivery point for WTI futures â fell last week by 330,495 barrels to 37.6m, but there is reason to suspect further builds are imminent, according to the JBC Energy analysts. This is especially the case given an overall build in total petroleum stocks last week. As JBC noted on Friday: The US crude market continues to lag behind its European and Asian counterparts. Pressure is building due to abnormally high stocks for crude and products amid lacklustre demand. This has resulted in a widening contango spread with October WTI on the Nymex currently at a discount of $3 per barrel to December WTI. The weakness of WTI can also be seen internationally, with the US benchmark plummeting to a deep discount against ICE Brent and a weaker premium against Dubai. http://ftalphaville.ft.com/blog/2010/09/10/339736/when-cushing-syndrome-strikes/ So, can we name this observation "decoupling, or ?