Contracts for
nearby delivery are trading at a premium to longer-dated ones as demand rises and supplies tighten.
European cargoes for
nearby delivery to Amsterdam, Rotterdam or Antwerp (ARA) last closed at $52.31 a ton, up around 3 percent in the past month, partly supported by oil.
Backwardation means the cash or
nearby delivery price of a commodity has risen above the price for forward delivery, which is usually higher.
Nymex crude delivery for June 2012 is $82.55, up from the previous week's $81.24, but not as much as the
nearby delivery month, an indication that those trading for delivery two years and more in the future did not share last week in the nearby traders' strong optimism that all will be well in the world now.
All 28 lanes were reserved for Britney's party and they ordered 20 pizzas from a
nearby delivery shop.
He stressed that all the staff at the Royal Mail sorting office at Watford and the
nearby delivery offices had received their proper wages.
European cargoes for
nearby delivery into Amsterdam, Rotterdam or Antwerp (ARA) last closed at $42.65 a ton, having fallen about 11 percent since the start of the year.