Shanghai crude oil futures fell further on Thursday and were at parity with the U.S. market, as state oil majors and local traders piled on more bearish bets amid concerns about domestic refinery demand.  The latest drop takes the fall since the contract’s launch on Monday to 10 percent, underperforming the dominant western benchmarks and raising questions that refiners in the world’s top crude importer were pushing to bring down import costs. Benchmarks Brent and West Texas Intermediate (WTI) have fallen by around 1 percent this week. “There is uncertainty over crude demand and delivery of the new contract,” said First Futures analyst Chen Tong. “As a result, there are not enough investors willing to take a long position or take a cargo.” The front-month contract on […]