hippo, your guess is incorrect. The futures market is far from fake or fraudulent. It is a legitimate marketplace that has been around in various forms for 100s of years. Its purpose is to manage risk, enabling producers and buyers of a commodity certainty in the transaction price at a future date. Therefore enabling more accurate budeting of their business. In more recent times futures are available for financial products for the same reason. Speculators also contribute and they assist in future price discovery.
So, far from fake and fraudulent the market serves a real purpose. Business that rely on certainty of future prices to run their business woulld struggle to operate without risk products such as futures and its cousin forwards.
As for delivery, what you have described cannot happen. There are safeguards built into regulations underpinning contracts. Around 98% of contracts are cash settled, if an unprecedented demand came to take delivery it would be trigger the safeguard - delivery would be null and void, cash settle only.
The reality is if an entity wanted to take delivery in the future and lock in the price now. They would take out a contract, accept the cash settlemt at expiry and use the proceeds to buy at the prevailing price on market at that settlement day. That is what the market is designed to achieve, know what price you will achieve or pay bauyimg in the market at a future date.
Therfore your fake and fraudelent plus Russia demanding is imagination running wild. While Russia could buy contracts thus pushing up prices through demand, why would they? And there would always be a counterparty to off set that action to keep price discovery intact. Forcing delivery cannot happen there are safeguards.
