China’s yuan-denominated crude oil futures contract for September delivery jumped to an all-time high on Tuesday by its daily limit, as speculators are eagerly trading the Chinese futures, while investors are uncertain where the most actively traded international benchmarks—Brent Crude and WTI Crude—are heading. The Chinese oil futures, launched in March this year, have jumped as much as 5 percent so far in August and have been steadily gaining over the past two weeks. Meanwhile, Brent Crude and WTI Crude are stuck in a tight range as market participants and traders try to make sense of the conflicting forces in the current oil market—the returning U.S. sanctions on Iran on the one hand, and fears that trade wars could curb demand growth, on the other hand. On Tuesday, the Chinese crude futures contract for September jumped by its 5-percent daily limit compared to Monday’s settlement price, to US$78.37 (537.20 […]