oil future
Noun: A type of financial contract or derivative instrument. It represents an agreement to buy or sell a specific quantity of crude oil or other petroleum products at a predetermined price on a specified future date. These contracts are standardized and traded on a futures exchange. They are used for hedging against price fluctuations or for speculative investment.
This term is used primarily in the contexts of finance, commodities trading, and economics. It refers to the tradable contract itself, not the physical oil. - Example: The investor purchased several oil futures to hedge against the risk of rising fuel costs for his transportation company. - Example: Trading in oil futures increased volatility in the market.
- "to trade oil futures": to buy and sell these contracts on an exchange.
- Many hedge funds actively trade oil futures.
- "oil futures contract": the full, formal term for the agreement (Note: This is a compound term listed here as it is a direct variant).
- Each oil futures contract on that exchange is for 1,000 barrels.
- "oil futures market": the marketplace where these contracts are traded (Note: This is a compound term listed here as it is a direct variant).
- News of the hurricane disrupted the oil futures market.
- Futures contract (n): The general category of agreements to buy or sell an asset at a future date. "Oil future" is a specific type of futures contract.
- Commodity future (n): A futures contract for a raw material or primary agricultural product. Oil futures are a subset of commodity futures.
- Crude future (n): A synonym often used interchangeably with "oil future," specifically referring to contracts for crude oil.
- Petroleum future: A direct synonym, though less common.
- Crude oil futures: A common synonymous phrase (Note: This is a plural form of a compound term).
- Spot price (n): The current market price for immediate delivery of oil, in contrast to the future price agreed upon in a futures contract.
- Hedging (n): A primary use of oil futures, which is to lock in a price to reduce risk.
- Speculation (n): Another common use of oil futures, which is to bet on future price movements for potential profit.
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petroleum bought or sold at an agreed price for delivery at a specified future date
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