China launches crude oil futures trading

Updated 2018-03-26 10:05:03 Xinhua

China on Monday launched trading of the yuan-denominated crude oil futures contracts at the Shanghai International Energy Exchange, which is the first futures listed on China's mainland to overseas investors.

Crude oil futures to boost pricing power

China's plan to launch crude oil futures on March 26 will enable it to develop its own benchmark for oil pricing in addition to current global benchmarks, said Jonty Rushforth, senior director of the energy price group at S&P Global Platts, an energy industry information service provider.

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