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Meaning of “contango” in the English Dictionary

"contango" in Business English

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contangonoun [U]

uk   us   /kənˈtæŋɡəʊ/
FINANCE, STOCK MARKET a ​situation in which the ​price of a commodity (= a ​product such as ​oil or a metal that is ​traded in large ​quantities) is ​higher if the ​buyer is to receive the ​commodity at a future ​date than it is if the ​buyer receives it immediately: The ​priceslump would ​createconditions of contango, where ​massivecurrentsupply puts the ​spotprice below the ​futuresprice. Much of the ​commoditymarket is at ​present in contango.
(Definition of contango from the Cambridge Business English Dictionary © Cambridge University Press)
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