Where Is All That Excess Oil Going?

"There's a term traders use when the price of a commodity like oil has fallen because of oversupply but seems guaranteed to rise again."

"It's a market that's "in contango," says Brenda Shaffer, an energy specialist at Georgetown University. "It almost sounds like a sort of great oil dance or something."

"And Shaffer says that some oil speculators see an oil market that is in contango in a major way."

"'Some people out there think that oil is going to get more expensive so it's worthwhile now to buy oil, lock it in, and have those supplies, have them stored and have them available to sell a few months down the line, if you actually believe it's going to go up,' she says."