Oil briefly flashed a warning signal that shows traders are worrying about oversupply

Oil markets went into contango Tuesday, indicating fear of oversupply, Bloomberg previously reported.
Coronavirus, and increasing signs that OPEC may not cut production in response to it, has sent oil spiraling down recently.
Still, brent crude bounced as much as 2.37% Tuesday.
Visit Business Insider's homepage for more stories. Oil markets flashed a signal late Monday that oversupply is top of mind.
The Brent crude futures curve momentarily entered full contango, in which each later dated