2025-01-10
2025-01-10
2025-01-09
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Crude oil futures
The underlying of crude oil futures is medium sour crude oil, of which the gravity is 32.0 degrees API and sulfur content is 1.5% by weight. 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 |
United Arab Emirates |
Murban |
35 |
1.5 |
5 |
Sultanate of Oman |
Oman |
30 |
1.6 |
0 |
State of Qatar |
Qatar Marine |
31 |
2.2 |
0 |
Republic of Iraq |
Basra Light |
28 |
3.5 |
-5 |
Republic of Iraq |
Basra Light |
26 |
4.0 |
-10 |
The Federative Republic of Brazil |
Tupi |
28 |
0.8 |
10 |
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.
Crude oil futures
The underlying of crude oil futures is medium sour crude oil, of which the gravity is 32.0 degrees API and sulfur content is 1.5% by weight. 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 |
United Arab Emirates |
Murban |
35 |
1.5 |
5 |
Sultanate of Oman |
Oman |
30 |
1.6 |
0 |
State of Qatar |
Qatar Marine |
31 |
2.2 |
0 |
Republic of Iraq |
Basra Light |
28 |
3.5 |
-5 |
Republic of Iraq |
Basra Light |
26 |
4.0 |
-10 |
The Federative Republic of Brazil |
Tupi |
28 |
0.8 |
10 |
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.