At present, investors speculate on crude oil mainly through spot investment, futures investment, futures index investment and energy stock investment, while China mainly supports spot investment and futures investment.
The international crude oil price system changes with the development and evolution of the world oil market. Many long-term crude oil trade contracts use formula calculation method, based on the price of one or more reference crude oils, and then add a premium. The basic formula is as follows:
P=A+D
These include:
P is the settlement price of crude oil.
A is the benchmark price.
D stands for advanced.
The reference price is not the specific transaction price of a crude oil at a specific time, but the price calculated by linking with the spot price, futures price or the quotation of a quotation institution for a period of time before and after the transaction.
Some crude oils use the quotation of this crude oil in a quotation system, which is used as the benchmark price after formula processing; Because there is no quotation, some crude oil has to be linked to the quotation of other crude oil.