ShFE launches new fuel oil contract

BEIJING: The Shanghai Futures Exchange (ShFE) launched 380-centistoke bonded fuel oil contract on Monday, the exchange said in a press release.

Trading volume of the futures by market close reached 59,658 lots, at 1.8 billion yuan ($269.80 million), according to the exchange. Sinopec and China National Petroleum Corp (CNPC) among other oil and chemical majors have participated in the trading. The 380-centistoke bonded fuel oil contract was China´s second bonded energy futures after the March launch of crude oil futures on the Shanghai International Energy Exchange (INE), a ShFE subsidiary.