What could be a reason Futures Curves can end up showing a Backwardated shape? A sudden increase in supply making the front of the curve collapse in price Expectations of a future economic boom calling for higher demand and therefore a higher prices in the longer end of the curve A sudden increase of current demand because an unforseen reason (i.e. a natural disaster makes people hoard all available supply) All of the above could explain whay a curve goes into backwardation