The latest news shows that the turnover of the Shanghai International Energy Exchange (INE) crude oil futures at the beginning of June was the highest level since listing, and this is a positive signal. Participants in various financial markets are keen to provide liquidity for INE crude oil futures. Sex.

On the 6th, the INE crude oil futures for September delivery reported at 465 yuan/barrel. According to INE's official website data, the trading volume of INE crude oil futures has been steadily increasing since its listing on March 26. The trading volume in April was an average of 690,055 contracts/day, and in May it rose to 1,705.54 million contracts/day. An increase of 147%. Among them, the volume of crude oil futures for September delivery reached a record 275,006 lots on the 1st, which is about 7 times the trading volume of the first day of the listing of the futures contract.

Reuters said that as the world's largest crude oil importer, China hopes that Shanghai crude oil futures will eventually form a three-way relationship with Brent crude oil futures and West Texas Intermediate (WTI) futures. China also hopes to establish the status of the RMB in the spot crude oil market, avoid dollar exchange costs, and increase the use of the RMB in global financial transactions. Platts said that since the listing of INE crude oil futures, many Chinese state-owned oil companies and industry participants have participated in the trading of crude oil futures contracts, and retail investors and financial investors have occupied the vast majority of participants.

Reuters said that the global market share of Shanghai crude oil futures doubled within two months after launch and reached 12% in mid-May. During the same period, Brent crude oil was 26% and WTI was 62%. However, Platts also reminded that, although the market has generally considered INE crude oil futures to be successful, compared to the mature international crude oil benchmark, INE crude oil futures still appear to have smaller volumes in terms of transaction volume and unsettled equity. There is currently no impact on Brent crude and WTI.

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