What do crude oil futures mean?

Crude oil is unprocessed petroleum.

It is customary to call unprocessed petroleum crude oil. A dark brown viscous oily liquid with green fluorescence and a special odor. It is a mixture of various liquid hydrocarbons such as alkanes, cycloalkanes, aromatic hydrocarbons and alkenes.

The main components are carbon and hydrogen, accounting for 83-87 and 11-14 respectively; there are also small amounts of sulfur, oxygen, nitrogen and trace amounts of phosphorus, arsenic, potassium, sodium, calcium and magnesium. , nickel, iron, vanadium and other elements. The specific gravity is 0.78~0.97, the molecular weight is 280~300, and the freezing point is -50~24℃. After crude oil is refined and processed, various fuel oils, solvent oils, lubricating oils, greases, paraffin, asphalt, liquefied gas, aromatics and other products can be obtained, providing fuel, raw materials and chemical products for various sectors of the national economy.