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  • Appendixes

 1. Delivery Unit

 The delivery unit of standard crude oil futures contract is 1000 barrels. The delivery quantity shall be integer multiple(s) of the delivery unit.

2. Last Trading Day
The Last Trading Day of a crude oil futures contract shall be the last trading day of the month prior to the delivery month. The Shanghai International Energy Exchange (hereinafter referred to as “the Exchange”) reserves the rights to adjust the Last Trading Day in accordance with the national holidays so as to protect the legitimate rights of all parties involved in the futures trading and the social public interests, and to mitigate market risks. For example, if a national holiday of more than three consecutive days falls between the second last trading day, the last trading day, and one of the days in the delivery period of the contract, the Exchange may decide either to advance or to postpone the Last Trading Day and shall announce in advance.

3. Grades and Quality Specifications
Medium sour crude oil, of which the quality specifications are as follows: the gravity is 32.0 degrees API and sulfur content is 1.5% by weight. The deliverable grades and the premiums and discounts will be stipulated separately by the Exchange. The Exchange may adjust the deliverable grades and the premiums and discounts based on the market conditions.
The “crude oil” in this contract refers to the liquid hydrocarbons exploited directly from underground natural reservoir, or a mixture of its natural forms.

4. Designated Delivery Storage Facilities
Designated Delivery Storage Facilities will be designated and separately announced by the Exchange.

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