This confirms what I was saying earlier...before you 'corrected' me.
I didn’t find the articles I had read months before. The market has been in Cantango for months. Traders buy oil at current price, sell a futures contract at more than the cost of storing the oil. Lock in the sale and the storage price; instant profit, no risk. The following from about a week ago:
http://www.wsj.com/articles/oil-glut-sparks-latest-dilemma-where-to-put-it-all-1425577673
Many traders see Cushing as ground zero for the global oil glut. The city is the hub for pipelines connecting oil fields in Canada and west Texas to refineries along the Gulf Coast and is the nation’s biggest commercial storage hub by capacity. It is also a popular spot to store oil because it is the delivery point for the barrels backing futures traded on Nymex. Because of a current quirk in the market—futures prices for later months are higher than the front-month contract—traders who store oil in Cushing can lock in an agreement to sell that crude at a higher price.
Oil Futures: Reducing Risk in a Volatile Market
http://info.drillinginfo.com/oil-futures-reducing-risk-volatile-market/