Lasting contango in oil: market spread to outlast supply-demand imbalance

LONDON (Reuters) - While vast cuts by producer countries and renewed fuel consumption from easing coronavirus lockdowns may soon rebalance oil supply and demand, some analysts and traders see a glut in storage keeping the market in contango for much longer.A contango market structure means the current value is lower than it will be in later months and encourages traders to store oil to resell it in the future. An especially skewed spread for oil futures or "super-contango" emerged last month,..