SNAPSHOTS

China: Beijing Bets on Oil Futures

Feb 9, 2018 | 22:40 GMT

(Stratfor)

China is hoping to increase its clout in the global oil market. On Feb. 9, a spokesperson for the China Securities Regulatory Commission announced that the country's oft-delayed futures contracts for crude oil will finally launch March 26. Crude oil futures are, essentially, contracts in which buyers agree to accept a delivery of crude oil at a later date for a predetermined price. In this instance, the contracts will be traded in yuan at the Shanghai International Energy Exchange. In doing so, Beijing is hoping to establish an Asian price standard for its own oil and gas imports and take pricing power away from benchmarks in the Middle East, Europe and North America....

Keep Reading

Register to read three free articles

Proceed to sign up

Register Now

Already have an account?

Sign In