INE: Circular on Adding the Deliverable Crude Oil for Crude Oil Futures

In accordance with the Contract of Crude Oil Futures of Shanghai International Energy Exchange(hereinafter referred to as INE) and the Delivery Rules of Shanghai International Energy Exchange, INE hereby decides to add Murban crude oil as deliverable crude. The loading port is set to be either Fujairah Terminal or Jebel Dhanna Terminal. The grade and price differential of the newly-added deliverable crude oil are stipulated as follows:

Grade and Price Differential of the Newly-added Deliverable.

Crude Oil for INE Crude Oil Futures:

Country	Deliverable Crude	API Gravity	Sulful (%)	Premium or Discount (Yuan/Barrel)
United Arab Emirates	Murban	≥35	≤1.5	5

Notes: 1. API gravity = (141.5 / S.G.60/ 60 °F) – 131.5; S.G.: as per ASTM D1298.

　　　2. Sulfur content: as per ASTM D4294.

From June 1st, 2021, the Murban crude oil will be allowed to be loaded-in and be used for standard warrant issuance and futures delivery. INE will closely track and review market development in each deliverable crude stream, timely adjust the deliverable crude streams, grades, and/or price differentials, and release notifications accordingly.

For China derivatives market access and more market information please contact sherry_ustc@163.com

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