Theoretically, Future price =Spot price + Cost of carry
Cost of carry will change as the time left to expire is different for different expiry dates and hence the price difference.
Can you plz show here sample calculation for crude oil contracts?
Taking the liberty to answer this on behalf on Nithin. I've worked out the details wrt to Nifty. Let me know if you have any further questions on this..
Thanx a lot Karthik, but i am still looking for similar calculations for crude oil contracts at MCX.