Shanghai United Oil two barrels of oil, the forerunner of the futures – energy – People’s network

Oil Shanghai: two barrels of oil futures Pioneer – energy – the moment into the oil Shanghai office, a strong state system under the "mystery" arise spontaneously. In this office, there is a pioneer in the futures market of state-owned enterprises. They use practical action to prove that in this futures national team admission ceremony, the domestic chemical market, the protagonist also plays an important role. With further contact with reporters, two barrels of oil in a silent market in the futures team slowly surfaced. Hedging to avoid the slump in oil prices risk information, oil Shanghai International Trade Co. Ltd. (hereinafter: Shanghai oil) is China Allied Oil Company Limited (hereinafter referred to as: ChinaOil) a wholly-owned subsidiary in Shanghai, is Chinese oil member enterprises, is one of the first allowed to enter the Pudong foreign trade enterprises. It is understood that in the current international oil market trading businesses, if the market price to buy a boat oil, price is generally the benchmark price premium and, in general, the benchmark price is a price and futures market linked. In the course of the transaction, often need to use futures to lock price, transfer pricing and other operations, to participate in the oil market will be exposed to the futures of this tool, and must learn how to use. It is because the entire oil industry pricing in this mode, in the absence of intervention in the domestic futures market, the United States and Shanghai oil in the spot when it has been closely integrated with international futures. As long as the purchase of a ship in stock, it is basically linked to futures and hooks. Speaking of the concept of hedging, in fact, the oil has a sense of the early. As everyone knows, PetroChina and Sinopec have large quantities of crude oil imports, imports of crude oil to the refinery processing. But the process from import to processing requires a cycle. "It is about three months or so before we buy crude oil from overseas to our country, to produce refined oil." The person in charge said that from the purchase to the port to transport this link for almost two months, and then need a month to refine the finished product. When the domestic refined oil out of the time, the corresponding price of crude oil has been three months after the price. If there is no hedge, due to a longer time, you may encounter very extreme market conditions." He recalls, in 2008, crude oil from August of $147 a barrel, down to December of $more than and 40 a barrel, if there is no hedge price risks, the cost will be very great. The impact of the futures market on the whole petrochemical market is not the same as before. In the past, we rarely pay attention to its volume, its participation. But now the industry participants have been forced to have to focus on the market, because in the spot offer contains the benchmark price of futures. From the current spot price can also be observed on the frequency of the impact of futures on the spot. In the past, most of the quotation in the chemical market is in the morning and afternoon, once in a while, in general, a few times a day. However, with the futures price to participate in the spot price, the current offer has been shortened to 5 minutes. Promote the development of good futures can not be denied, there is no corresponding futures varieties and improve the management mechanism, Shanghai, a number of varieties of oil trade相关的主题文章: