Shanghai Energy Exchange adjusts crude oil futures trade limits

Shanghai Energy Exchange adjusts crude oil futures trade limits

Shanghai International Energy Exchange Adjusts Crude Oil Futures Trading Parameters
March 3, 2026

The Shanghai International Energy Exchange (INE) has implemented revised trading parameters for crude oil, low sulfur fuel oil, and TSR 20 futures contracts, effective February 5, 2026. These adjustments, outlined in a circular issued on February 3, 2026, aim to enhance risk management and market stability.

Under the new rules, price limits for these contracts are set at ±9% of the previous trading day’s settlement price. Trading margin requirements have also been adjusted: hedging positions now require a 10% margin of the contract value, while general positions require 11%. The changes apply during the daily clearing process and are part of the INE’s broader framework to address market volatility.

The circular notes that further adjustments may occur if conditions specified in Article 16 of the INE’s Risk Management Rules are triggered. Such scenarios could include heightened market turbulence or systemic risks, prompting temporary modifications to price limits and margin rates. Traders are advised to consult the Risk Management Rules for additional details.

These measures align with the INE’s ongoing efforts to internationalize its markets, as evidenced by recent collaborations with global data vendors and regulatory recognition, including inclusion in Malaysia’s list of specified exchanges. The adjustments reflect a balance between fostering liquidity and mitigating speculative pressures in energy commodities.

INE emphasizes that the Chinese version of the circular takes precedence in case of translation discrepancies. Market participants are encouraged to review the appendix detailing the revised parameters for clarity.

As global energy markets remain sensitive to geopolitical and economic shifts, the INE’s updated framework underscores its commitment to maintaining orderly trading conditions while accommodating international investor participation.

(https://www.shfe.com.cn/eng/CircularNews/Circular/202602/t20260203_830350.html): Circular on Adjusting the Price Limits and Trading Margin Rates (INE, February 3, 2026)
(https://www.ine.cn/eng/): Shanghai International Energy Exchange Official Website (INE, 2025-07-28)