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With WTI and Brent detached, plans are afoot for a new, medium sour crude contract in China....

With WTI and Brent detached, plans are afoot for a new, medium sour crude contract in China. What’s more, the proposals would allow foreign investors to trade in commodities markets without a local subsidiary for the first time. But deep reforms in China's tightly controlled oil import and refining sectors would be needed to lure the world's top producers, traders, refiners and investors.
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