This morning, history was made as China began trading Yuan denominated oil futures contracts on the Shanghai International Energy Exchange. According to Liu Shiyu, the Chairman of the China Securities Regulatory Commission (CSRC), “We have the confidence, determination and ability to build a crude oil futures market with Chinese characteristics, and make due […]
Tag: Petrodollar
Trump Officially Declares Trade War on China Days Before Launch of Petroyuan
Donald Trump has signed a Section 301 Action of the 1974 Trade Act, authorising the implementation of new wide reaching tariffs covering the import of a wide variety of Chinese goods into the United States, with an emphasis on barring Chinese technology and technology investment from the US market. Trump […]
Russia’s Latest Investment In Saudi Arabia Continues To Shift Balance of Power In The Middle East Away From US
With little fanfare, Russia and Saudi Arabia have reached an agreement wherein Moscow will invest in the forthcoming IPO of Aramco, the state-owned Saudi energy giant that is about to go public. Early indications are that Russian investors will purchase substantial shares of the 5% of Aramco’s total public value […]
D-Day For The US Dollar: China’s Petroyuan Oil Futures Contracts To Be Issued From 26 March
China has officially announced that its first Petroyuan oil futures contracts will be issued in just over a month’s time on the 26th of March. This will officially herald the beginning of a new era in the global oil trade and moreover, it signals the beginning of the end of […]