In the constantly changing realm of energy markets, staying informed about the latest developments and crude oil news is crucial for traders and investors. In this article, we bring you three vital updates concerning Shanghai International Energy Exchange Crude Oil Futures, shedding light on critical aspects that influence this dynamic market.
From shifts in supply and demand dynamics to price fluctuations and a comprehensive market outlook, these insights will provide you with a well-rounded perspective on the current state of INE Crude Oil Futures, helping you make informed decisions in this complex and influential market.
Trading Crude Oil Futures from INE
The Shanghai International Energy Exchange (INE) offers several commodities futures contracts for both international traders and domestic traders in China. This includes crude oil futures contracts such as Medium Sour Crude Oil Futures, Low Sulphur Fuel Oil Futures, and other popular commodity futures like Bonded Copper Futures and the TSR 20 Rubber Futures.
Since these commodities futures are available on different exchanges, traders can look to utilizing it for cross-arbitrage trading, such as refined copper arbitrage trading and rubber cross-arbitrage trading.
Traders would need to go through an Overseas Intermediary like Orient Futures International Singapore to trade crude oil futures from INE through either the QFI China Scheme or Internationalized Products from China.
Click here to know more about Brent Crude Oil Futures Contract and Brent Crude Oil Futures Symbol.
3 Updates About INE Crude Oil Futures
Here are 3 updates about INE Crude Oil Futures based on Orient Futures Weekly Updates on the Fundamental Data of Energy Products dated 20230924 and other sited sources.
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Crude Oil Supply and Demand
Russia made a significant move by announcing a temporary ban on gasoline and diesel exports to most countries at the end of September this year. This is primarily aimed at stabilizing domestic fuel prices.
Russia is globally recognized as one of the leading diesel-exporting nations, and this temporary export ban carries substantial implications for the diesel market. In the first eight months of this year alone, Russia consistently exported approximately 1.03 million barrels per day of diesel.
Notably, Russia's diesel trade flows have undergone significant changes since the imposition of EU sanctions in February. These sanctions prompted a resetting of trade routes, leading to increased exports to emerging markets in regions such as Turkey, Africa, the Middle East, and South America. This realignment in supply chains has created supply constraints in Europe, consequently driving up EU diesel import demand.
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INE Crude Oil Prices
The price of oil has seen a slight pullback from their recent highs, with the Federal Reserve maintaining a hawkish stance, which is dampening market risk appetite.
Click here to find out the INE Crude Oil price today.
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Crude Oil Market Outlook
While the Middle East has made considerable strides in expanding its refining capacity, the incremental diesel exports from this region have not yet fully materialized. As such, the short-term outlook hinges on whether these exports can increase steadily.
Furtermore, China has recently issued new export quotas, which may potentially contribute to heightened diesel exports. In the broader global market context, Russia's role as a significant diesel supplier remains pivotal.
However, if the temporary export ban persists over an extended period, the risk of diesel supply shortages may intensify, although this could be tempered by existing storage capacity limitations. Strong diesel crack spreads are anticipated to persist, providing ongoing support to oil prices in the midst of these evolving supply and demand dynamics.
Start Trading With Orient Futures Singapore
Overseas Intermediary of Shanghai International Energy Exchange (INE), Dalian Commodity Exchange (DCE), and Zhengzhou Commodity Exchange (ZCE), when foreign clients participate in internationalised futures contracts in these Chinese markets with us, they have direct access to trading, clearing, and settlement. Our parent company, Shanghai Orient Futures, is the largest broker in terms of aggregated volume across the five regulated exchanges in China.
Orient Futures Singapore also currently holds memberships at the Singapore Exchange (SGX), Asia Pacific Exchange (APEX), and ICE Futures Singapore (ICE SG). Starting August 2023, corporate clients can also gain access to the B3 Exchange through us.
We provide bespoke services to our professional clients, tailored to their corporate and individual needs. Our team will be there for you 24 hours on trading days to provide a one-stop portal for all your trades, with simple processes and an intuitive user interface that has low or near-to-zero latency.
