Crude oil futhers launch

Shanghai crude oil futures look successful, but issues lurk

The new Shanghai crude oil futures have been trading for just over a month and have so far managed to build up reasonably strong volumes, but this success may only mask some wider concerns.

The yuan-denominated contracts were launched on March 26 by the Shanghai International Energy Exchange and are enjoying trading volumes averaging around 80,000 a day, with the open interest around 16,000.

The INE contract offers seven grades of Middle Eastern and domestic crude for delivery to various locations in China, the world's largest oil importer.

Thu, 03/05/2018 - 10:25