Commodity transfer between the seller and the buyer of a futures contract. All exchanges have stipulated the specific steps of commodity delivery. Some futures contracts are settled in cash.

Delivery date: According to the regulations of the Chicago Board of Trade, the delivery date is the third day in the delivery process. The settlement company of the contract buyer must deliver the delivery notice together with the fully confirmed cheque to the settlement company office of the contract seller on the delivery date.

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.

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