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What is the best oil market?
Spot market energy spot market allows producers to immediately send surplus energy to buyers who have the ability to buy it. The negotiation of this spot price is extremely fast, and once the transaction is made, the goods will be delivered immediately. The spot market can be run by private enterprises or controlled by industrial organizations or government agencies. The retail market often attracts a large number of speculators, because the spot price is open and the delivery after the transaction is very timely. Several examples of the spot market of natural gas energy in Europe are "TIF" in the Netherlands and "National Balance Point" (NBP) in the UK. Setting a single price for a specific amount of crude oil is called spot price. Oil (as an energy commercial product), like other commodities, can also be traded in the futures market in the future, that is, the exchange of central funds. People can trade with standardized contracts related to the future, that is, under the constraints of such contracts, buyers can buy a specific number of commodities or financial contracts (agreements) marked with a specific price and deliver them at a specific time in the future. Regarding the transaction, according to the price, delivery will be made in three months or six months. In addition, the natural gas futures market has long existed in the United States, and Europe has also appeared.