By Barani Krishnan
Investing.com — Crude oil prices entered “contango” mode — a market structure that defines weakness — for the first time since 2021, after entailing potential weekly losses of up to 10%, like China’s Covid headlines, new hawkish ones Federal Reserve signals and easing supply concerns came to a head for oil bulls.
The December contract for the front month for US crude benchmark West Texas Intermediate, or WTI, was at $79.42 a barrel as of 11:15 a.m. ET (16:15 GMT), lower than…
