Secrets of China’s Crude Oil Futures

China’s crude oil futures, traded on the Shanghai International Energy Exchange (INE), is the first futures contract in the country to allow international investor participation.

Even before its launch on March 26, 2018, there was much suspicion about whether the INE crude oil futures might be successful. All these doubts and concerns were completely understandable, given the serious challenges encountered in the past in other Asian countries, not to mention the INE’s deviation from all predecessors in having the contract denominated in the yuan.

But now, at the time of its three-year anniversary, we can congratulate it on finding its feet and achieving preliminary success as a regional benchmark. What