flattening

short of a political event the story is supply

http://www.zerohedge.com/news/2016-03-12/why-oil-producers-dont-believe-oil-rally-credit-suisse-explains

Locking It In. Since January, the spread between spot Brent prices and 2020 Brent prices has dropped nearly $8.00 to $10.71 per barrel, indicating selling in 2017, 2018, and 2019 futures contracts. According to Reuters, the majority of selling has come from E&Ps looking to lock in prices to hedge against a repeat of last year's second half commodity price route. At the same time, the hedges indicate a lack of confidence that the current commodity rally will continue.