China bets on a yuan-oil bonanza
The country's long-delayed crude oil futures contract promises much, but doubts persist
The Shanghai International Energy Exchange (INE)—a child of the Shanghai Futures Exchange—continues to excite and frustrate domestic and international market participants over the launch of its crude-oil futures contract. Banks, whose market-making role would be crucial to the success of the contract, along with physical and financial crude-oil traders, are keen to trade on the INE. But continuing delays have frustrated some, while others debate just how much of an impact the contract could have on the international oil scene. “We’re ready to go,” says the head of oil trading at a multinational bank, based in Singapore. “But we have been for months. Everything’s in place. We have clients at
Also in this section
16 April 2026
Demand for oil is falling because supply cannot meet it, not because it is no longer required
16 April 2026
The continent has an immediate opportunity to make the most of its energy resources by capturing gas that is currently slipping away
15 April 2026
The continent is seeing political pushback to climate plans, corporate reassessment of transition goals and rising supply risk in a fractured global order
15 April 2026
The Middle East energy crisis may turn out to be pivotal to the industry’s long-term expansion, but significant challenges still stand in its way
