Oil market participants and analysts have been focused on the front-month oil futures prices that rallied to levels last seen in November 2014, with Brent Crude breaking above $80 a barrel last week . Yet, over the past month, an even bigger rally has been taking place at the back end of the curve—in the five-year forward oil prices that generally trade in a much narrower band than front-month futures do. The rally in forward prices has outpaced the front-month price increase, suggesting the speculators are betting on rising oil prices in the medium term, to 2022 and 2023, and that the ‘lower-for-longer’ could be over, analysts tell Bloomberg . While Brent Crude jumped last week to above $80 and WTI Crude broke above $72 , the five-year Brent forward price has jumped to above $63 a barrel, after having traded mostly constrained in the $55-60 narrow range for […]