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What is futures crude oil?
The New York Mercantile Exchange (NYMEX) light sweet crude oil, namely "West Texas Intermediate" futures contract;
High sulfur crude oil futures contract of Dubai Mercantile Exchange;
London International Petroleum Exchange (IPE) Brent crude oil futures contract;
Singapore Exchange (SGX) Dubai sour crude oil futures contract.
Extended data
The three basic functions of the oil futures market have been basically possessed.
The first is price discovery. There are many commodity producers, operators and speculators in the futures market. They trade and influence each other on the basis of production cost plus expected profit.
The second is to avoid risks. Hedging is one of the basic operating modes of the oil futures market. Enterprises can achieve risk procurement through hedging, so that the production and operation costs or expected profits remain relatively stable, thus enhancing their ability to resist market price risks.
The third is to satisfy speculation. Capital has a natural speculative demand. Using the oil futures market can attract a lot of funds, thus providing impetus for the development of the oil industry.
Baidu encyclopedia-crude oil futures
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