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INE Circular defining the Deliverable Crude Streams, Deliverable Grades, and Final Settlement Price Differentials for Shanghai International Energy Exchange Crude Oil Futures
Effective on, January, 2018, pursuant to the Contract Specifications of Crude Oil Futures and the Delivery Rules of the Shanghai International Energy Exchange, INE has set the deliverable crude streams, deliverable grades, and final settlement price differentials for INE crude oil futures as follows:
The deliverable crude streams, deliverable grades and
final settlement price differentials for INE crude oil futures
|
Nation |
Deliverable Crudes |
Minimum API Gravity |
Maximum Sulfur (%) |
Price Differential (Yuan / Barrel) |
|
United Arab Emirates |
Dubai |
30 |
2.8 |
0 |
|
United Arab Emirates |
Upper Zakum |
33 |
2.0 |
0 |
|
Sultanate of Oman |
Oman |
30 |
1.6 |
0 |
|
State of Qatar |
Qatar Marine |
31 |
2.2 |
0 |
|
Republic of Yemen |
Masila |
31 |
0.8 |
5 |
|
Republic of Iraq |
Basra Light |
28 |
3.5 |
-5 |
|
People’s Republic of China |
Shengli |
24 |
1.0 |
-5 |
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.
The Exchange will closely track and review market developments in each deliverable crude stream, and make timely adjustments to the deliverable crude streams, grades, and/or price differentials accordingly.
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