Products and Services

Crude Oil

INE’s Crude Oil Futures is the first internationalised China’s Futures Products and was launched in March 2018.

INE Crude Oil Futures Contract Specifications

Product Medium Sour Crude Oil
Contract Size 1000 barrels per lot
Price Quotation (RMB) Yuan per barrel(no tax or duty included in the quotation)
Minimum Price Fluctuation 0.1 Yuan / barrel
Daily Price Limits ±4% from the settlement price of the previous trading day
Listed Contracts Monthly contracts of recent twelve (12) consecutive months followed by eight (8) quarterly contracts.
Trading Hours Please refer to Trading Holidays & Hours
Last Trading Day The last trading day of the month prior to the delivery month; The Shanghai International Energy Exchange is entitled to adjust the last trading day in accordance with the national holidays.
Delivery Period Five (5) consecutive trading days after the last trading day.
Grades and Quality Specifications Medium sour crude oil with the quality specifications of API 32.0 degrees and sulfur content 1.5% by weightThe deliverable grades and the price differentials willbe stipulated separately by the Shanghai International Energy Exchange.
Delivery Venues Delivery Storage Facilities designated by the Shanghai International Energy Exchange
Minimum Trading Margin 5% of contract value
Settlement Type Physical delivery
Product Symbol SC
Listing Exchange Shanghai International Energy Exchange

 

Delivery Process

Standard Delivery Procedure involves a five-day delivery procedure.

*For most accurate and up-to-date information, please refer to the respective exchange’s website.