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Extended data
Type of crude oil transaction in ICBC account
Account crude oil trading can be divided into buying before selling and selling before buying according to different types of transactions. These two transaction types are independent of each other and operate separately.
The transaction of buying before selling refers to the transaction in which the customer first buys the crude oil in the account and then sells the crude oil in the buying account. The cumulative quantity of crude oil sold by customers cannot be greater than the cumulative quantity of crude oil bought. Customers buy account crude oil first and then sell it, which is called buying and opening positions, and selling account crude oil is called selling and closing positions.
The transaction of selling before buying refers to the transaction in which the customer sells the transaction first, and then partially or completely buys the crude oil in the account within the sold quantity. The cumulative quantity of crude oil bought by customers in the account cannot be greater than the cumulative quantity of crude oil sold. Customers selling account crude oil first and then buying it is called selling and opening positions, and buying account crude oil is called buying and closing positions.
Industrial and Commercial Bank of China-Account Crude Oil