The futures price for delivery in January, at the peak of consumption, is only 94.9 cents, leaving no spread over today's price to pay storage costs.

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This makes it difficult for sellers and buyers to settle futures contracts by physical delivery of the commodity rather than by cash.

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In fact, analysts say people who are selling gold (or, more accurately, gold futures contracts since few people take delivery of physical gold if it's only an investment) are using the money to buy shares.

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In fact, until recently, oil for immediate delivery was more expensive than futures contracts.

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Exchanges for actual delivery, rather than cash-settled futures exchanges quoted only in bitcoin, will also require holding customer funds in national currencies.

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Aaron, whose firm offers futures on 90 red Bordeaux (pay now for delivery of 1999 vintages in spring 2002), says that some labels are stuck at the same prices they were at a year ago.

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The argument du jour is that speculators are driving up oil futures prices, and these higher futures prices in turn drive up prices of oil for current delivery.

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If ExxonMobil is looking at a shortage of sweet-light in its mid-western refineries, they can go to the futures market and buy a few weeks supply of West Texas Intermediate (WTI) for delivery in 60 days.

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