Nation closer to oil futures trade
(China Daily) Updated: 2012-12-05 10:42China is moving closer to starting a market for trade in crude-oil futures, the Shanghai Securities News reported.
The Shanghai Futures Exchange is "still pushing forward" with preparations for the market, the newspaper reported on Tuesday.
The contracts will establish a new benchmark price for Middle East crude shipped to Asia, according to a Shanghai Futures Exchange document that shows a draft plan presented in May.
China Daily - Agencies
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