Shanghai Exchange Widens Crude, Fuel Oil Futures Price Bands to 16%

Widening the band to 16% alongside a 17% hedge and 18% ordinary margin is a risk-management adjustment, not a directional signal, and the tiered margin structure deliberately keeps hedging cheaper than speculative positioning. The practical effect is that these specific crude and low-sulfur fuel oil contracts can now move roughly twice as far in a single session before halting, which matters most to participants holding positions through the effective date. Whether the wider band attracts or repels liquidity in the affected contracts is the open question, and the margin gap between hedge and ordinary accounts is the detail worth tracking.