Sentences with phrase «largest oil futures contract»
NYMEX crude oil is the largest oil futures contract in the world and has a current total open interest of around 1.6 million contracts and it would be impossible for any group of speculators to sell or buy 53 days of world production in a year or longer, no less in a week as just occurred in COMEX silver.
http://goldsilverworlds.com/ Not exact matches
The plan is to launch an oil futures contract on the Shanghai International Energy Exchange (INE), but there are obstacles in convincing large oil producers and consumers in using the yuan and investing in the Shanghai benchmark.
For example, if a large speculator who was very bullish on oil bid - up the price of the December - 2016 oil contract from $ 64 to $ 70, it would create an opportunity for other traders to lock - in a profit by purchasing physical oil and selling the December - 2016 futures with the aim of delivering the oil into the contracts late next year.
For another example, if a large speculator who was very bearish on oil aggressively short - sold the December - 2016 oil contract, driving its price down from $ 64 to $ 60, it would create an opportunity for other traders to lock - in a profit by selling physical oil and buying the December - 2016 futures with the aim of eventually replacing what they had sold by exercising the futures contracts.
Bets on oil futures reached 1.47 million contracts for the week ending on November 15, the largest trading volume in nearly a decade.
According the Intercontinental Exchange (ICE), since March 2012, ICE Brent has been the world's largest crude oil futures contract with annual volume reaching a record 159 million contracts in 2013, doubling market share since 2008.