# Futra Digest

> Futra Digest is an independent publication covering Trading, derivatives & commodities. Focus: Futures and commodities daily. Published by Independent Journal; sponsored by Adamson Brothers Corp. (see the About page). Articles are drafted from primary sources with AI assistance and reviewed under our editorial policy. Not investment advice.

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## Sections
- [Latest news](https://futradigest.com/): newest articles first
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## Guides
- [Margin and Leverage in Futures Trading, Explained](https://futradigest.com/margin-and-leverage-in-futures-trading/): Margin and leverage in futures trading explained: initial and maintenance margin, daily mark-to-market, margin calls, and why losses can exceed your deposit.
- [How Commodity Prices Are Set: Supply, Demand and Futures](https://futradigest.com/how-commodity-prices-are-set/): How commodity prices are set: the roles of supply, demand, inventories, spot and futures markets, benchmark grades, risk premiums and government data.
- [Contango and Backwardation Explained for Futures Traders](https://futradigest.com/contango-and-backwardation-explained/): Contango and backwardation describe the shape of the futures curve. Learn what causes each, how roll yield works, and why it matters for commodity funds.
- [How Futures Contracts Work: A Plain-English Guide](https://futradigest.com/how-futures-contracts-work/): A plain-English guide to how futures contracts work: standardized terms, clearinghouses, daily settlement, delivery versus offset, and who trades them.

## Recent articles
- [Commodity Prices: Gold Holds Near $4,200, Silver Eyes $59.05](https://futradigest.com/commodity-prices-gold-4200-silver-support/) (2026-10-13): Gold consolidates near $4,200 ahead of Wednesday's CPI, silver defends $59.05 support, and Brent shows no sign of retreating, per Tuesday's commodity analysis.
- [Heating oil spending to jump 21% this winter, EIA forecasts](https://futradigest.com/heating-oil-prices-winter-2026-eia-outlook/) (2026-10-07): EIA's winter outlook sees heating oil spending up 21% and electricity bills up 4%, while natural gas and propane households spend less, with stocks thin.
- [Commodity Prices: Brent Tops $100, Gold Slips on 5.34% Yields](https://futradigest.com/commodity-prices-brent-100-gold-treasury-yields/) (2026-10-07): Oct. 7 commodity prices: Brent is back above $100 on reported Houthi strikes on Saudi sites, while gold sits near $4,158 as the 10-year yield touches 5.34%.
- [Crude Oil Futures Slide a Third Day; Gold Near $4,100](https://futradigest.com/crude-oil-futures-third-day-gold-4100/) (2026-10-06): Crude oil futures fell a third session as Gulf exports recovered and the G7 planned a 100M-barrel release, while gold hit a two-month low near $4,100.
- [Futures Market: CFTC Perpetuals Relief, Crypto ANPRM, Oil, Gold](https://futradigest.com/futures-market-cftc-perpetual-futures-oil-gold/) (2026-10-05): The CFTC issued no-action relief for true perpetual index futures and opened a crypto ANPRM; the EIA reported a $109 Brent peak in 3Q26 and record gas output.
- [Propane exports hit record 2.1M b/d in April, EIA says](https://futradigest.com/propane-exports-record-first-half-2026-eia/) (2026-10-01): US propane exports averaged 2 million b/d in the first half of 2026, up 11%, with a record 2.1 million b/d in April as India demand grew and China's fell.
- [Power demand: EV electricity use growth slows to 8% in 1H 2026](https://futradigest.com/electricity-demand-electric-vehicles-eia-first-half-2026/) (2026-09-30): EIA estimates US electric vehicles used nearly 14 billion kWh in the first half of 2026, up 8% from late 2025 as new EV sales fell 19% after tax credits ended.
- [Crude oil output: public firms produce 68% of Lower 48 supply](https://futradigest.com/crude-oil-production-public-companies-eia-68-percent/) (2026-09-22): EIA data show publicly traded companies were 2% of about 12,000 US oil and gas producers in 2025 but produced 68% of Lower 48 crude oil and natural gas.
- [Crude oil prices and crack spreads lift US gasoline: EIA](https://futradigest.com/crude-oil-prices-crack-spreads-gasoline-eia-sept-2026/) (2026-09-04): EIA says gasoline crack spreads have averaged about $1 a gallon above 2025 levels as refinery disruptions abroad tighten supply; US regular gasoline hit $4.07.
- [EIA August outlook: commodity prices path for Brent and gas](https://futradigest.com/eia-steo-commodity-prices-august-2026/) (2026-08-11): EIA's August 2026 outlook saw Brent averaging $87 a barrel in 2026 and $69 in 2027, with U.S. gas storage set for its highest pre-winter level since 2016.
- [Gold futures lead metals growth as CME July volume hits record](https://futradigest.com/gold-futures-cme-july-record-volume/) (2026-08-04): CME Group's July 2026 ADV hit a record 27 million contracts, up 23%, with Micro Gold futures up 41%, 1-Ounce Gold up 417% and WTI crude oil futures up 17%.
- [CME news: Q2 2026 ADV of 29.8 million, market data hits record](https://futradigest.com/cme-news-q2-2026-results-adv-29-8-million/) (2026-07-22): CME Group reported second-quarter revenue of $1.7 billion, average daily volume of 29.8 million contracts and record market data revenue of $238 million.
- [CME May record: crude oil futures, Treasuries drive 33.2M ADV](https://futradigest.com/crude-oil-futures-cme-may-record/) (2026-06-02): CME Group's May 2026 ADV hit a record 33.2 million contracts, up 15%, with record Treasury futures volume and WTI crude oil futures averaging 932,000 a day.
- [CME news: April 2026 ADV reaches 25.9 million contracts](https://futradigest.com/cme-news-april-2026-adv/) (2026-05-04): CME Group reported April 2026 average daily volume of 25.9 million contracts, with growth in micro crude and metals futures and a record in KC HRW wheat.
- [CFTC opens first COT review since 2006, eyeing futures market data](https://futradigest.com/cftc-cot-report-review-futures-market/) (2026-04-30): The CFTC sought public comment on publishing Commitments of Traders reports more often and changing their content, its first full review of them since 2006.

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