1,586,058 lots of China crude were traded during last week.

This weekly report is provided by Huatai Financial USA on Friday afternoon, Chicago time. The data sources are INE, CME, ICE, and various news sources.Please note: 1. Volume, Open Interest and turnover include buy and sell (double-side counted); 2. Volume and Open Interest are measured in lots; 3. Turnover (notional value) is measured in 10,000 RMB; 4. Price is daily/weekly last trading price.

Weekly Volume, Open Interest, and Turnover

1,586,058 lots of China crude oil futures were traded during 8/20/2018 to 8/24/2018, and the weekly turnover (notional value) was 795,277,910,000 RMB, approximately $116.83 billion. The average daily trading volume for the week ended August 24 was 317,212 lots/day.

The last trading day for crude oil futures September 2018 contract (sc1809) is August 31, 2018 and the delivery period is from September 3, 2018 to September 7, 2018. We observed that December 2018 contract contributed to 99% of total trading volume, and let's see how many September 2018 crude oil contracts will enter into the delivery period at the end of this week.

Historical Price (front-month contract price)

According to Morningstar Analyst, uncertainty about global supply and demand have swung prices in both directions this summer. U.S. sanctions against Iran and supply disruptions in Libya and Venezuela have supported oil at various times, while figures showing steady output from major producers including Saudi Arabia and Russia have tended to push prices lower.According to data released by Baker Hughes report last Friday, US oil rig count dropped by nine rigs to 860 for the week ended August 24. Also, the recent reporting season highlighted a slowdown as higher costs and stagnant price growth hit US shale oil producers. Market participants continue to watch for geopolitical and international trade tensions, which have been key factors injecting volatility into oil prices these past couple of weeks. Crude may have to wait longer for a direction.December 2018 China crude oil futures price closed at 482.0 RMB/Barrel ($70.81 per barrel) on Monday, August 27th.

Forward Curve

Other New

The Oil Trade Only for Those Ready to Brave the Wild YuanWild swings in the yuan and punitive storage costs are making oil traders think twice about a bet on Chinas fledgling crude futures that looks highly lucrative on paper. (Source: Bloomberg)

Oil Prices Swing on Supply UncertaintyOil prices swung between small gains and losses Monday, with traders waiting for fresh supply signals following last week's rally. (Source: Morningstar)

U.S.-China trade talks end with no breakthroughU.S. and Chinese negotiators ended two days of meetings Thursday without breaking a deadlock over trade that has unnerved financial markets and disrupted global commerce. (Source: CBS News)

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About Us：Huatai Financial USA, Inc. (Huatai USA) headquartered in Chicago was formed in 2015 as an affiliate of Huatai Futures Co., Ltd. Huatai USA has been approved by the Chinese Securities Regulatory Commission (CSRC) to offer derivatives brokerage services in the US, is a registered Futures Commission Merchant (FCM) with the Commodity Futures Trading Commission (CFTC), and is a member of the National Futures Association (NFA).

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