price of oil april 2016
On February 27, the April 2016 WTI futures contract settled at $61.95/bbl, more than a $12.00/bbl premium to the front month (April, 2015) contract. This encourages refineries and speculators to build inventory since all indications are that oil will cost more in the future.n February 27, the April 2016 WTI futures contract settled at $61.95/bbl, more than a $12.00/bbl premium to the front month (April, 2015) contract. This encourages refineries and speculators to build inventory since all indications are that oil will cost more in the future.