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
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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Pricey coffee is here to stay as hoarding, heat hit Vietnam supply
Oil settles higher as weak US economic growth offset by supply concerns
India's Vedanta misses Q4 profit estimates on lower prices
BHP targets Anglo American in bid valuing miner at US$39 billion
China's Sinopec charts global expansion with refinery in rival India's backyard
Gold trades in tight range as market focuses on US economic data