CNBC | The oil market just did something it hasn't done for nearly three years CNBC The WTI calendar spread for the next six months moved from "contango" into "backwardation" Tuesday. To explain, a calendar spread measures the difference in price between any pair of oil contracts with different delivery dates and can explain the ... Opec cuts help push oil prices to two-year highs Oil hits highest since mid-2015 as OPEC sticks to supply deal Oil climbs to more than two-year peak |