Question on WTI Contango/Backwardation and Storage Costs

Hey everyone,

I've been trying to wrap my head around the interplay between WTI futures curves (contango/backwardation) and its direct impact on physical storage capacity, particularly Cushing. I understand the basic concept: contango incentivizes storage, backwardation discourages it. But what I'm struggling with is how granularly the market reacts to minor shifts in the curve.

Is there a practical threshold in the forward curve spread where participants really start making concrete decisions about leasing or releasing storage? Or is it more of a continuous, fluid adjustment based on many factors beyond just the curve shape?