Asia/Pacific News
Bunkers Being Traded as Part of New Tokyo Commodity Exchange Physical Oil Market
Thursday January 12, 2017
The Tokyo Commodity Exchange (TOCOM) Wednesday launched a physical market for oil products, including gas oil, bunker A, and low sulfur bunker A (LSA) for delivery via maritime shipments or at refineries, Reuters reports.
Oil refiners, trading houses and oil distributors have been named as major participants in the new offering, said a TOCOM official.
"Execution prices will be used to determine the settlement of cash-settled oil futures contracts slated for listing in May 2017 at TOCOM," said the exchange.
"The Exchange expects the result to be a useful new price index and will contribute to reinvigorating the existing oil futures market."
It is noted hat trade prices are set to be published on the TOCOM website.
