Oil traders are showing increasing confidence that U.S. economic growth will rebound next year as they take advantage of the widening gap between current prices of crude and contracts for delivery six months from now. The price advantage, or contango, to buy and hold crude more than doubled to $5.76 a barrel last month from $2.60 at the end of July, as contracts for October delivery fell 9.4 percent and March dropped 5.3 percent. “Demand is going to look a lot better in 2011,” said Adam Sieminski, chief energy economist at Deutsche Bank AG in Washington, who predicted prices will rise to $80 next year. “By then the overall numbers on things like industrial production, housing, investment and probably even consumer sentiment will be better.” XX Sean’s note — I was going to post this straight to my Twitter account, which is where I do a lot of my news dumps lately. Just this morning I’ve Twitter-posted links to stories about ,,, a blast at a Mexican refinery how silver is rising in gold’s shadow how the Malaysian gold dinar is being called a runaway success how the diamond trade in China has jumped 91% and more. And all my blog posts (like this one) also end up linked on Twitter. So, if you like what I write, you might want to sign up for my twitter feed. You can find my twitter page at http://twitter.com/SeanBrodrick

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