State whether this market is in contango or normal

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The spot price of a barrel of crude oil is $101.52 and the forward price for the same commodity is $101.02.

State whether this market is in contango or normal backwardation, and briefly explain your answer?

Reference no: EM131992307

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State whether this market is in contango or normal : The spot price of a barrel of crude oil is $101.52 and the forward price for the same commodity is $101.02.

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