Speculators Rattle China Oil Futures as Prices Break From World - Bloomberg:
The crude futures contract that China launched with ambitions to challenge U.S. and European benchmarks is proving to be an eccentric outlier rather than a legitimate rival.
Futures in Shanghai -- which made their debut in March -- slid 2.6 percent from the close on Tuesday, when they had jumped by their daily limit to a record. Wednesday’s decline has pared gains in August to less than 2 percent. By comparison, Brent crude in London and West Texas Intermediate in New York have been relatively staid and are little changed for the month.
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