The long-awaited yuan-denominated oil futures will be launched in March in Shanghai Futures Exchange. That's announced by the China Securities Regulatory Commission on Friday. The introduction of the yuan-denominated oil futures has been in the works for six years. Its launch was delayed several times as the authority evaluated its potential risks. The yuan-denominated oil futures will allow China, now the world's biggest oil consumer, more clout in pricing crude oil in Asia. Trading of the oil futures will be open to both domestic and foreign investors.