So I thought it might be interesting to plot quotes for consecutive futures contracts to see what the market was expecting the underlying commodity to do.
One interesting thing I stumbled upon was the difference between crude oil and natural gas contracts (I have attached graphs below). Does anyone have any suggestions for the lack of seasonality shown in the oil contracts? My initial guess was that crude actually isn't very affected by seasonality, but to see the expected price show an almost linear relationship seems a little weird.
Also, the seasonal charts for oil on here, http://www.timingcharts.com/index.php, don't show any resemblance to what is being priced in by the market (refer to the third picture I have attached).