UPDATE 1-Shanghai exchange plans China's first crude oil futures

(Adds CSRC confirmation of launch date; details of deliverable crudes) Feb 9 (Reuters) - China plans to launch its long-awaited crude oil futures contract on March 26, the China Securities Regulatory Commission said on Friday, a move that will potentially shake up pricing of the world's largest commodity market. It will compete with two other crude derivatives, U.S. West Texas Intermediate (WTI) and London's Brent, which are traded mainly on the New York Mercantile Exchange (NYMEX) owne