Delivery date of US crude oil futures: The trading of the current delivery month must be terminated on the third working day before 25th of the month before the delivery month. If the 25th of this month is a non-business day, the transaction shall be terminated on the third business day of the previous business day.
As far as futures contracts are concerned, the delivery date refers to the date when the goods must be delivered. In commodity futures trading, individual investors have no right to hold positions before the final delivery date. If they don't close their positions themselves, they will be forced to close their positions by the exchange. Only the spot enterprises that apply for hedging qualification from the exchange and get approval can hold their positions until the final delivery date and enter the delivery procedure.
The delivery date of crude oil refers to the date when the two parties agree to exchange money, and there is no delivery date for the spot. Delivery means that investors holding multiple orders apply to the exchange or member units for delivery (the delivery price is calculated at full price, and sufficient funds need to be guaranteed in the account when applying), and then physical crude oil is extracted according to the process.
The delivery time of crude oil futures refers to the contract month 16 to 20. If the final delivery date of crude oil futures is postponed in case of legal holidays, or during delivery, the delivery date will be postponed accordingly, and generally five delivery days are guaranteed. These five delivery days are called the first delivery day, the second delivery day, the third delivery day, the fourth delivery day and the fifth delivery day respectively, and the fifth delivery day is the final delivery day. The delivery time of crude oil futures on London International Financial Futures Exchange is the second Wednesday of March, June, September and 65438+February; The delivery time of crude oil futures in Chicago market is the third Wednesday of the above month.
The main forms of crude oil trading are crude oil futures trading and crude oil spot trading. Because the crude oil futures market has the characteristics of price discovery, hedging and regulating speculation, its trading volume has been growing rapidly and has become the most active commodity in the world. The New York Mercantile Exchange's light crude oil futures are the most liquid crude oil trading commodities in the world and the largest physical commodity futures contract in the world. New york crude oil futures is the most important crude oil futures. As an important industrial product, crude oil plays an important role, and its price fluctuation is regarded as the weather vane of the global economy.