The launch of China’s crude oil futures is likely to be delayed, possibly until the second quarter of 2016, as authorities take a fresh look at crude grades included for delivery into the contract, while they step up efforts to ensure plentiful storage for participants, sources close to developments told Platts this week. The grades that are currently included for delivery into the contract meant that there is too much dependence on Middle Eastern crude, the sources added. Therefore, the exchange is looking at whether there is a need to tweak the crude basket to includes grades from other regions to address concerns over security of supply. “The risks include limited availability of storage for the futures delivery and the dependence on crude from the Middle East,” a Chinese regulatory official said. China has seen a significant build in crude stocks this year and some tanks, which have been […]