Friday, 30 March 2018

Shanghai oil on par with U.S. market as local traders bet on lower prices

Shanghai oil on par with U.S. market as local traders bet on lower prices

30 March 2018, Beijing/Singapore — Shanghai crude oil futures fell further on Thursday and were at parity with the U.S. market, as state oil majors and local traders piled on more bearish bets amid concerns about domestic refinery demand. The latest drop takes the fall since the contract’s launch on Monday to 10 percent, underperforming …

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