As we detailed previously, China’s yuan-denominated crude oil futures launched overnight in Shanghai with 62,500 contracts traded in aggregate, meaning over 62 million barrels of oil changed hands for a notional volume around 27 billion yuan (over $4 billion). As OilPrice.com’s Tsvetana Paraskova notes, Glencore, Trafigura, and Freepoint Commodities were among the first to buy […]