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Futures Question: What does 0 1 and 02 of US crude oil in new york energy futures market mean to US crude oil 12?
It is American crude oil 100 1.

After delivery, the old contract was delisted and listed in the same month of the following year. This rule also applies to other varieties.

General situation: futures price = spot price× (1+interest rate) time.

The longer the industrial contract month, the higher the futures price.