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China may launch new crude benchmark: sources

Shanghai International Energy Exchange says it could happen as early as October

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China may launch a global crude oil futures contract as early as October to compete with the existing London Brent and the US WTI benchmarks, three sources said, as it pushes ahead with reforms to open up its oil markets.

Singapore

CHINA may launch a global crude oil futures contract as early as October to compete with the existing London Brent and the US WTI benchmarks, three sources said, as it pushes ahead with reforms to open up its oil markets.

The long-awaited crude contract would better