Shanghai crude contract to trade medium, sour grades

摘要

Singapore—The Shanghai Futures Exchange crude oil contract, which is to be launched later this year, will be priced either in Yuan/barrel or US dollars/barrel and will reflect crude with a gravity of 32 API and 1.5% sulfur content, sources close to the SHFE said May 29. The deliverable grades include Basrah Light, Dubai, Masila, Oman, Qatar Marine, Shengli, Upper Zakum and Urals, sources said. The SHFE will set a differential of between minus $1.50/b and plus 60 cents/b against the crudes if their specifications differ from the standard set by the SHFE.