August 31, 2018 / 9:51 AM / 3 months ago

Private Chinese trader delivers crude oil against Shanghai contract

BEIJING, Aug 31 (Reuters) - Shanghai Zhida Hailan Energy Co Ltd, a private energy trader set up in May last year, is one of the companies that delivered crude oil against Shanghai September futures contract on Friday, a company spokesman told Reuters.

The Shanghai-based company delivered 100,000 barrels of Iraqi oil Basra Light into a storage in Zhanjiang.

The September-delivery crude contract on the Shanghai International Energy Exchange (INE) expired on Friday with five companies set to deliver a total of 601,000 barrels of crude oil through the exchange next month. (Reporting by Chen Aizhu, Editing by Sherry Jacob-Phillips)

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