Backwardation
Backwardation is a market condition in which nearer-dated futures contracts trade above later-dated contracts, or the spot price exceeds a futures price. It can reflect tight immediate supply or a benefit from holding physical inventory, but does not guarantee that prices will fall.
In a hypothetical oil market, a near-month futures contract trades at $80 per barrel and a later-month contract at $77, showing backwardation.
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