The Shanghai International Energy Exchange (INE) launched on Monday a crude oil options contract open to foreign traders as part of a plan to boost China’s pricing power in commodities. The crude oil options contract is the first in the energy sector options open to overseas traders, and although volumes were low on the first day of trade, analysts told Reuters that there is interest in the contract. China launched its yuan-denominated crude oil futures in March 2018, a development that had been in the works for years. Many…
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