What does Full Carry mean?
The cost difference between one month contracts from the next one is the full carry cost. This cost is a combination of interest cost, cost of insurance and storage. Full carry cost increases as we go long on the contract.
Futures Knowledge Explains Full Carry
For example, if for the month of January the cost of contract of Brent Crude is $50 and for February its $51 then the difference of $1 is the full carry. This $1 can be broken down into interest cost, storage cost and insurance cost. For the next month the contract price will be higher than $51 as these costs increases.