Oil futures markets
Starting the futures markets in general?
It is the markets where the securities are sold and the price is arrested immediately, and provided the board with the promise from the seller to hand over a particular commodity at a specified price at a specified date in the future.
And a list of goods that are bought and sold in a long futures markets include about 13 agricultural such as wheat, rice, sugar, commodity, and a group of animal products, and all the precious metals and most industrial metals other than iron ore, and there are futures markets for some rare metals and other materials like wool, rubber and palm oil, the most important of all of the above for us, the oil futures markets, which are bought and sold through all types of crude oil and its derivatives most important automotive fuel and jet fuel.
For the three crude oil futures markets, according to the type of crude in London, New York and Dubai. It was not for the oil futures markets remember before the eighties of the last century importance.
The first futures contract «official» crude oil was in 1981, although there was what looked like traders exchange futures contracts for sale and Qdinm price immediately and deliver what has been agreed to buy it at a specific date in the future at a specified date and in a particular place.
The oil at the end of the day, commodity, whether it was sold and purchased immediately or in the future, is no different in that for wheat or rice or copper or tin, and therefore determines the price on its own market futures what determines the price of any other commodity, ie the sum of the quantities produced by Producers in all countries of the world and the total required in all parts of the ground ball, in addition to «expect» specialists and brokers in the futures market for the supply required in the near future and long-term perspective.
And «expectations» about the future of the total supply is required and the total is the most important in determining oil prices in the markets futures, and features the futures market that any interested party can buy and sell through it immediately and without delay with complete transparency, and may be of buyers and sellers speculators and brokers in markets futures as is the case in the rest of the financial markets, may be added to them producing countries need to be the price of oil now and later received, in addition to specialized companies buy futures delivery to avoid higher prices in the future that was likely to escalate at a time when the need for oil.
But the futures market the role of any commodity, the mere existence of markets for goods are paid for now and received later beyond, because the prices that prevail in the futures markets affect the prices of goods in the spot or real-time markets. For oil, for example, be valued (or determine price) of oil in the long-term contracts, under the formula takes into account the level of oil prices in the futures markets, and this effect is an increase or decrease the price of what is agreed in the sale of oil contracts during different periods in the future.