crude oil futures

China plans oil futures to strengthen global pricing power

The Shanghai Futures Exchange is planning China’s first crude-oil futures contract so the country can develop more influence over fuel prices.

China is one of the world’s biggest consumers of industrial and agricultural commodities, but its futures exchanges have yet to develop any influence over global commodity prices.

To improve that situation, the Shanghai Futures Exchange SFE is planning China’s first crude-oil futures contract, which could be launched as early as the end of this year so the country can gain the pricing power to match its massive demand.

The new futures contract “marks the opening up and innovation of China’s commodities futures market”, Wang Lihua, chairwoman of SFE, said at a forum in Shanghai, during which the plan was announced.

Despite a decelerating...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222