China plans to launch Shanghai crude oil futures
Shanghai’s International Energy Exchange (INE) was going to launch the futures contract in 2016 but the plans were shelved due to volatility in domestic stocks, which caused hesitance among regulators.
Although the exact date of the launch is unclear, it is likely to take place between July and October, the reports revealed.
Crude oil in Asia is currently priced against Dubai, Oman and Brent benchmarks.
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