The launch of China’s yuan-denominated oil futures will mark the culmination of a decade-long push by the Shanghai Futures Exchange (ShFE) aimed at giving the world’s largest energy consumer more power in pricing crude sold to Asia. The exchange said on Friday it had set the opening price for the front month of its crude futures contract launching on Monday at 416 yuan ($65.80) per barrel. Worries include how to freely exchange the yuan because of a Chinese clampdown on capital outflows, while some concerns remain about Beijing’s heavy-handed intervention in its commodity markets in recent years, traders and analysts said. The obligation to trade Shanghai crudes in yuan will also add a currency risk to the market, which some traders […]