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 exchan
Also in this section
19 March 2026
The regional crisis highlights the undervalued role of fixed pipelines in the age of tanker flexibility
18 March 2026
Rising LNG exports and AI-driven power demand have raised concerns that US gas prices could climb sharply, but analysts say abundant shale supply and continued productivity gains should keep Henry Hub within a range that preserves the competitiveness of US LNG
18 March 2026
Risks of shortages in oil products may cause world leaders to panic and make mistakes instead of letting the market do what it does best
17 March 2026
The crisis in the Middle East has put LNG’s ability to offer security and flexibility under uncomfortable scrutiny
