China’s Oil Futures Give New York and London a Run for Their Money

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A year after China rolled out yuan-denominated oil futures, trading in the contracts is gaining ground on rivals

But despite a surge in volumes, market participants say most trading in the yuan-based contracts has been initiated by domestic, rather than foreign players. That suggests China still has a way to go before oil futures in Shanghai can become a truly international benchmark.

Source: News Formal (newsformal.com)

 

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Who sells Yuan denominated futures & promises crude oil on due date. Do they import adequate amount of Chinese goods to square their Yuan holdings.

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