Related Articles
Forward article link
Share PDF with colleagues

Back to the futures for Chinese crude

The successful opening of a long-awaited yuan-denominated oil futures contract bodes well for the country’s aim to create a regional benchmark

After nearly six years of speculation, rumours, and declared intentions, the Shanghai International Energy Exchange (INE) finally launched China's first-ever oil futures contract on 26 March. Liquidity was strong on launch day, with 40,656 contracts worth around ¥17.6bn ($2.8bn) filtering through the system, according to the exchange's figures. The most active September contract settled at ¥429.9 a barrel, after fluctuating between ¥426.3/b and ¥447.1/b during the trading session. Before the INE opening, domestic and international market participants—both speculative investors and oil companies looking to mitigate risks taken in oil markets—might have been forgiven for scepticism. The exch



{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
European chemicals sector rises to climate challenge
1 December 2021
Industry responds to EU’s ‘Fit for 55’ package with new business models and alliances with other sectors, says PwC’s global head of chemicals
Energy transitions for a sustainable future
1 December 2021
The challenge of meeting global energy demand while hitting net-zero targets will be at the core of this year’s World Petroleum Congress
Indian government seeks energy investors
1 December 2021
Delhi is looking to the Mideast for energy investment, oil ministry secretary Tarun Kapoor tells Petroleum Economist
Sign Up For Our Newsletter
Project Data
PE Store
Social Links
Social Feeds
Featured Video