China Crude Oil

Benchmark oil prices have also bounced back as lockdown measures eased, with Brent futures rallying 50% and US crude futures over 90% since May 1

Oil was also boosted by optimism that trade talks between the world's two largest economies will support demand

With China grabbing more Saudi crude, flows to India, Japan and South Korea also appear to have declined last month

However, the contract will also come with quirks that traders used to London's Brent or U. West Texas Intermediate (WTI) may find less appealing