Global Trading Giants Dip Toes in China Oil Futures on Debut Day
- Nation’s first-ever crude futures end day at 429.9 yuan/barrel
- Glencore and Trafigura are among foreign participants in debut
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Two of the world’s biggest oil traders gave China’s crude futures contract a go on its long-anticipated trading debut.
Commodity giants Glencore Plc and Trafigura Group were among foreign participants as the yuan-denominated futures started on the Shanghai International Energy Exchange Monday. After an initial surge in volume that outpaced overnight transactions in global benchmark Brent crude in London, trading tapered off toward the end of the session and the contract closed at 429.9 yuan a barrel ($68.22).