Shanghai Crude Benchmark: 'Eccentric Outlier' Rather Than Contender?



Shanghai Crude Benchmark: 'Eccentric Outlier' Rather Than Contender?
The crude futures contract that China launched with ambitions to challenge U.S. and European benchmarks is proving to be an eccentric outlier rather than a legitimate rival.

The Shanghai crude futures fell 2.6 percent to 523.2 yuan ($76.78) a barrel at 3 p.m. Singapore time. Brent crude, the benchmark for more than half the world's oil, was little changed at $74.61 a barrel in London, while U.S. WTI was unchanged at $69.17 in New York.

--With assistance from Alfred Cang .

To contact Bloomberg News staff for this story: Serene Cheong in Singapore at scheong20@bloomberg.net, Sarah Chen in Beijing at schen514@bloomberg.net, Heesu Lee in Seoul at hlee425@bloomberg.net.

To contact the editors responsible for this story: Pratish Narayanan at pnarayanan9@bloomberg.net, Anna Kitanaka

©2018 Bloomberg L.P.


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