China’s crude oil futures, to be launched on Monday, will be a major step in Beijing’s years-long push to win greater sway over oil pricing, but for western traders it will likely bring frustration as well as opportunity.
Shanghai Crude aims to rival the world’s two crude benchmarks, luring overseas traders with the promise of a deep pool of liquidity and the chance for arbitrage between Asian, US and European markets.
However, the contract will also come with quirks that traders used to London’s Brent or U. West Texas Intermediate (WTI) may find less appealing, including shorter business
Shanghai Crude aims to rival the world’s two crude benchmarks, luring overseas traders with the promise of a deep pool of liquidity and the chance for arbitrage between Asian, US and European markets.
However, the contract will also come with quirks that traders used to London’s Brent or U. West Texas Intermediate (WTI) may find less appealing, including shorter business