StarWiz Technology Co., Ltd., a start-up in China, launched today weekly deliveries of crude oil inventory reports on delivery facilities of China oil future trading on Shanghai International Energy Exchange (INE). The reports will be delivered to hundreds of thousands users in financial businesses worldwide through Thomson Reuters’ EIKON terminals.
StarWiz’s report of China Shanghai oil future
In order to standardize the delivery behavior, the physical delivery of the Shanghai oil future contract shall be carried out in the delivery facilities designated by INE. INE would supervise the future business in the designated delivery locations in accordance with relevant regulations. In February of this year, INE approved the designation of six (6) delivery storage facilities (with eight (8) locations).
SAR satellite image acquired by StarWiz at request of customer
StarWiz analyzes optical and radar satellite data with artificial intelligence-based data processing and information retrieval methods to accurately extract crude oil volume stored in each tank located in a given area and continuously track their individual changes. Researches on major crude oil futures market around the world indicated that there was a clear correlation between the inventory information about delivery facilities and future prices. Before the exchange centers announce official reports, timely and accurate knowledge of the inventory information in advance is to be of great importance for every game player in crude oil future markets.
Asian Progress V, the first tanker carrying the crude oil of future contract, berthed at Dalian Bonded Depot on June 19.
On June 20, the first batch of crude oil of future contract was deposited in Dalian PetroChina Bonded Depot, one of the designated delivery warehouses. The successfully delivery of Future Contract 1809 is just around the corner. The first delivery of Shanghai crude oil future is expected to debut in the upcoming September. By then, crude oil inventory information about the delivery locations would surely become the focus of global attention.
Worldwide users can get this report regularly through the Thomson Reuters’ EIKON terminal. At the request of specific user, StarWiz can also provide detailed inventory information of each tank in designated areas on demand.
Subsection of detailed report about each tank at request of customer