INE - CRUDE OIL CONTRACT SPECS. Contract text




Contract text

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
9:00-11:30 a.m., 1:30-3:00 p.m. (the Beijing Time), and other trading hours as prescribed by the Exchange
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 weight
The 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

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