Shanghai International Energy Exchange has released the Circular on Adjusting the Deliverable Crude Stream for Crude Oil Futures as follows:
　　In accordance with the Contract of Crude Oil Futures of Shanghai International Energy Exchange and the Delivery Rules of Shanghai International Energy Exchange (hereinafter referred to as INE), combined with the changes in the crude oil market, INE hereby decides:
　　1. From June 24, 2022, the Masila crude oil will no longer be the deliverable crude stream of INE; Basrah Medium crude oil will be added as deliverable crude, loading at Basrah Oil Terminal or SPM;Tupi crude oil will be added as deliverable crude, loading at Angra Dos Reis, Port Acu, STS Santos, STS Sao Paolo, Sao Sebastian, and FPSO of Brazil, La Paloma of Uruguay, and other loading ports recognized by INE. The grade and price differential of the newly-added deliverable crude oil are stipulated as follows:

　　2. From November 1, 2022, the Basrah Medium crude oil and Tupi crude oil can be applied for standard warrants issuance and futures delivery.
　　INE will closely track and review market developments in each deliverable crude stream, timely adjust the deliverable crude streams, grades, and price differentials, and release notifications accordingly.

 

Shanghai International Energy Exchange
June 24, 2022