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Petro Yuan
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ScrapperTL Offline
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Posts: 412
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Post: #5
RE: Petro Yuan
UPDATE (3/26) on the Petro Yuan:

Link to Article 1 - Click Here
Excerpt: "Crude oil prices rose to their highest level in over three years after yuan-backed crude oil futures debuted strongly on the Shanghai exchange on Sunday.
North Sea Brent Crude surged above $71 per barrel for the first time since 2015 before retreating, though still trading strongly above $70 for only the second time in over three years.
US benchmark West Texas Intermediate (WTI) also hit the highest level since 2015 at $66.55 per barrel, before retreating to $65.53.
Crude oil futures in Shanghai rose 6 percent on the debut of the petro-yuan. Investors rushed in to buy the new oil contracts from the world’s largest oil consumer, China."


Link to Article 2 - Click Here
Excerpt: "It’s taken a quarter of a century, but China finally has its own oil futures. At 9 a.m. local time on Monday, crude contracts began trading on the Shanghai International Energy Exchange. Futures for September settlement opened at 440 yuan a barrel, up from a reference price of 416 yuan. The world’s biggest oil buyer is offering yuan-denominated futures that foreigners can buy and sell -- a first in Chinese commodities. Among the most intriguing questions is whether the traditional benchmarks of Brent crude in London and West Texas Intermediate in New York will face a serious challenger."
03-26-2018 11:53 AM
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Messages In This Thread
Petro Yuan - ScrapperTL - 03-24-2018, 12:45 PM
RE: Petro Yuan - Belantozorius - 03-24-2018, 01:37 PM
RE: Petro Yuan - SamuelBRoberts - 03-25-2018, 02:55 PM
RE: Petro Yuan - Leonard D Neubache - 03-25-2018, 07:16 PM
RE: Petro Yuan - ScrapperTL - 03-26-2018 11:53 AM

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