What is the difference between futures fuel and crude oil?

At present, China's oil futures are fuel oil futures, petroleum asphalt futures and crude oil futures of Shanghai Futures Exchange's subsidiaries. Many novice futures entry-level investors are not very familiar with fuel oil and crude oil. There is a certain difference between them. What is the difference between futures fuel and crude oil?

Fuel oil and asphalt are the varieties of the previous exchange. The contract scale is small, with 10 tons in one hand and thousands of yuan for trading. There is no threshold for opening an account. Crude oil futures is a kind of threshold, 500000 capital verification, to the business department examination open. After opening an account, domestic commodity futures can be directly traded in the commodity futures of Shanghai Futures Exchange, Taishang exchange and Zhengshang exchange, except for iron ore and options. Fuel oil futures is a non threshold variety that can be directly made after opening an account.
The correlation between fuel oil and crude oil is about 0.79, and the price difference between crude oil and fuel oil is constantly converging, from 41.28 yuan at the initial stage of listing to about 30.86 yuan at present (T / B ratio is calculated as 6.5). On the whole, in the rising trend, the rising range of fuel oil is far greater than that of crude oil, but in the medium and long term, the price difference will not be reduced all the time, considering that the increase of fuel demand will also drive the demand for crude oil.
Therefore, the price difference between crude oil and fuel oil may expand again in the later period. At that time, if it is in an upward trend, the increase of crude oil may be greater than that of fuel oil. If it is in a downward trend, the decline of crude oil may be less than that of fuel oil. At present, the most likely return of price difference is in the process of falling. Therefore, if the trend changes in the near future, it is suggested to carry out arbitrage with empty fuel and more crude oil The trend remains unchanged and the international oil price is rising strongly. It can still operate with more fuel and empty crude oil.
In fact, the relationship between oil futures and crude oil is very simple. The fluctuation of crude oil price is the main factor causing the fluctuation of fuel price. If you want to invest in oil futures, you can choose the right one according to your own capital strength and futures market situation.

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