Spot oil prices, now just above $50 a barrel, usually attract all the attention. Recently, however, the price movements in some far forward contracts have been more dramatic, with prices hovering at a five-month high of about $80 a barrel. Take the West Texas Intermediate contract for delivery in December 2015, a relatively liquid future used as a proxy for long-term prices, which closed last week at $79.8 a barrel, the same level as 18 months ago. Spot prices, meanwhile, are at levels of four years ago.
現貨石油價格（目前僅略高於每桶50美元）往往會吸引所有的注意力。但最近，一些超遠期合約的價格走勢更爲引人矚目，價格在每桶80美元的5個月高點附近徘徊。舉例而言，2015年12月交割的西德克薩斯中質油(WTI)合約是一種流動性相對較強的合約，被視爲長期價格的代表，該合約上週收於每桶79.8美元，與18個月前處於同等水準。與此同時，現貨價格則處在4年前的水準。
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