In debut, Shanghai crude oil futures jump more than 6 pct

Weekly Oil Markets Recap - Running Out Of Toilet Paper

Over 21 million barrels of the sulphur-rich oil were traded yesterday, reports the Wall Street Journal, meaning RMB18.3 billion ($2.9 billion) changed hands.

Shanghai crude oil futures opened up more than six per cent on Monday with nearly 20 million barrels of the most-active September contract changing hands.

In post-settlement trading, when volumes are thinner, prices for both benchmarks slipped in tandem with equities markets, and then dropped again after industry group American Petroleum Institute (API) reported a larger-than-expected rise in USA oil inventories.

Oil prices reversed earlier gains on Monday as concerns of a looming trade dispute between the United States and China weighed on global markets.

Meanwhile, crude futures that were tested in Singapore and Japan have since faded to obscurity due to low liquidity.

Asian shares gain on easing of US-China trade war fears
The possibility of a trade war have weighed on the energy complex on fears that it could harm oil demand. Facial recognition firms in China attracted $1.64 billion in 45 deals previous year .

"China has used this contract in an innovative way, to fill the void of a voice representing buyers in Asia", Shanghai-based ICIS-China analyst Li Li said.

Citing Li Qiang, director of the research center under the Xinhu Futures, the media outlet suggested that the launch of China's own oil futures could be seen as Beijing's attempt to open the country's commodity market to foreign investors.

China launched its first-ever crude-futures contract as the world's biggest oil buyer seeks to wield greater power over pricing and challenge benchmarks in the United States and Europe.

The September delivery contracts for Brent and West Texas Intermediate (WTI) varieties were traded at 68.38 Dollars per barrel and 64.06 USD per barrel respectively. Both futures contracts are commonly used by financial traders.

While the nation hopes to establish a benchmark for global oil transactions, whether the Asian nation would achieve that goal has been the subject of hot debate.

These grandmothers in Texas have had enough of gun violence
So most people were going out for the fire drill, and then people heard the code red, but some people heard it too late. Most of those fatalities do not come from mass shootings but from neighborhood homicides and suicides.

Still, China offers the potential for a deep, liquid market, buoyed by an explosion of interest from mom-and-pop investors that has supported its vast commodities derivative markets from apples to iron ore in Shanghai, Zhengzhou and Dalian.

As for geopolitical tensions, there was said to be an escalation on one front and an easing on another: supporting prices somewhat on Monday was Saudi Arabia air defences shooting down seven ballistic missiles fired by Yemen's Iran-aligned Houthi militia on Sunday, some of which targeted Riyadh.

In Asia, Shanghai crude futures fell more than 2% in their second day of trading to 424 yuan ($67.85) a barrel from a last settlement of 433.8 yuan ($69.41).

At the end of afternoon session, Shanghai prices were up 3.34 percent at 430.2 yuan, with 40,656 lots traded.

Rahul Gandhi accuses PM Modi
The Indian government has now sought information about its clients in India and whether it had harvested their user profiles. Targeting the Prime Minister , Rahul tweeted, "Hi!" Rahul tweeted, "Hi! My name is Narendra Modi ".

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