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Asia falls further behind US, Europe in financial oil trading

But that may change as China steps up efforts this year to launch its much-awaited Shanghai crude futures contract

Published Thu, Jun 29, 2017 · 09:50 PM
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Singapore

ASIA is dropping further behind the United States and Europe in financial oil trading despite being the world's biggest fuel-consuming region, exposing refiners from China to Singapore to the moods of speculators who often ignore market fundamentals.

While China's Unipec, a unit of state refiner Sinopec, vies with Europe's Vitol to be the top global crude trader, Asian might in physical markets has not spilled over into international futures trading.

Exchange data shows crude futures trading in Asia is stagnant, while volumes in Europe and North America have soared to records several times over the past year.

The data als…

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