China`s Shanghai Exchange Launches New Fuel Oil Contract

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The Shanghai Futures Exchange (ShFE) launched 380-centistoke bonded fuel oil contract on Monday. the exchange said in a press release

 Trading volume of the futures by market close reached 59.658 lots. at 1.8 billion yuan ($269.80 million). according to the exchange

Sinopec and China National Petroleum Corp (CNPC) among other oil and chemical majors have participated in the trading. the release said

The 380-centistoke bonded fuel oil contract was China’s second bonded energy futures after the March launch of crude oil futures on the Shanghai International Energy Exchange (INE). a ShFE subsidiary.