A futures contract is an agreement to buy or sell a commodity at a set price on a future date. The front-month contract is the next one to expire. As it nears expiry, trading rolls to the following month, which can cause small jumps in a continuous price series.
Why it matters
Futures prices reflect the spot price plus the cost of storing and financing the commodity until delivery. For investors they are the most liquid and transparent price for commodities.
See the data: Gold, Brent crude.
General information, not advice.