Im having a baby and i love the name Ellie but don't know what the full name should be?
In finance, a futures contract (more colloquially, futures) is a contract between two parties to buy or sell an asset for a price agreed upon today (the futures price) with delivery and payment occurring at a future point, the delivery date.
There are oil futures and there are oil options. An oil futures contract is a standardized contract traded on a futures exchange, to buy or sell a specific quantity of oil at a future date. In other words, oil futures are contracts to buy or sell at a specific date in the future at a price specified today.