The real-time market price of oil futures can be viewed in gub, which is a platform for investors to discuss and exchange stock market information. Oil futures is a standardized contract made by the exchange to deliver a certain amount and quality of oil at a specific time and place in the future, and it is a trading variety in futures trading. Or it can be simply understood as commodity futures with forward oil prices as the target. Crude oil futures are the most important oil futures. There are four important crude oil futures contracts in the world: the New York Mercantile Exchange light and low sulfur crude oil, namely "West Texas Intermediate" futures contract, fuel oil, gasoline and light diesel oil.

1.In the first 70 years of the 20th century, western multinational oil companies controlled most oil resources in the Middle East through franchise agreements, and then controlled oil prices. 1960 The establishment of the Organization of Petroleum Exporting Countries (OPEC) indicates that the control of oil prices in the western world has gradually shifted to OPEC. In 1970s, oil crisis broke out in Saudi Arabia and Iran. With the control of oil supply by the Organization of Petroleum Exporting Countries, oil prices began to rise sharply. In the 1980s, the oil output of non-OPEC oil-producing countries gradually surpassed that of OPEC, and the global oil supply exceeded demand, and then the oil price fell sharply. The world oil market has entered the stage of multiple pricing based on market supply and demand.

2. With the intensification of international oil price fluctuations, the market has a strong demand for avoiding price risks. The "reverse oil crisis" marks the gradual disintegration of the unilateral decision of the Organization of Petroleum Exporting Countries on oil prices. In this context, the international oil futures market has developed, and since the 1990s, the oil futures market has developed rapidly.

At present, more than ten international exchanges have launched crude oil futures. The New York Mercantile Exchange (NYMEX) and Intercontinental Exchange (ICE) under the Chicago Mercantile Exchange Group are the two most influential crude oil futures trading centers in the world, and their corresponding WTI and Brent crude oil futures also play the role of benchmark crude oil contracts in the United States and Europe respectively. In addition, Oman crude oil futures listed on Dubai Commodity Exchange (DME) are also important crude oil futures benchmark contracts.