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原油基本知识——What is the last trading day and delivery period of China’s crude oil futures contract? How do they dier from those of overseas contracts?

时间:2025-06-11

The last trading day for China’s crude oil futures contract is the 


last trading day of the month preceding the delivery month. For 


example, the last trading day for the Jun-2020 contract is May 


29th, 2020. The delivery period (delivery of crude warrants) is the 


five consecutive trading days after the last trading day.


Trading in the current delivery month of NYMEX WTI contract 


ceases on the third business day prior to the twenty-fifth calendar 


day of the month preceding the delivery month. If the twenty-fifth 


calendar day of the month is a non-business day, trading ceases 


on the fourth business day prior to the last business day preceding 


the twenty-fifth calendar day. For example, the last trading day 


for the Jun-2020 contract (delivery month) is May 20th, 2020. 


The NYMEX WTI contract calls for physical delivery; the delivery 


period is from the rst business day to the last business day of the 


delivery month.


The last trading day for the ICE Brent contract is the last business 


day of the second month preceding the contract month. For 


example, the last trading day of the Jun-2020 contract is April 30th, 


2020. The ICE Brent contract is cash settled against the ICE Brent 


Index Price, a well-developed spot market price which provides an 


authoritative price for the final settlement of the futures contract.


The last trading day for the DME Oman contract is the last trading 


day of the second month preceding the delivery month. For 


example, the last trading day for the Jun-2020 contract is April 30, 


2020. The DME Oman contract calls for physical delivery defined in 


the following way: Intention notices for delivery and matching are 


completed on the rst business day after the last trading day, and 


delivery shall be completed within the delivery month.


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