As the second quarter of the economic year begins, US stocks opened at their lowest level since the crash of 1929 which triggered the Great Depression. According to RT, “the S&P 500 index fell 2.2 percent after the first trading session in the second quarter. This was only ever worse […]
Tag: Petroyuan
The Petroyuan Is Here and Global Oil Markets Have Reacted Positively
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 […]
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 […]
7 Areas Where The US is Provoking China
The United States cannot retard the progress that China is making towards taking its position as the undisputed number one economy in the world. The US also cannot directly interfere in China’s diplomatic progress as expressed both in its peace-making initiatives such as the recent one between Myanmar and Bangladesh […]
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 […]
Venezuela Announces Pre-Sale of Oil Backed Cryptocurrency-El Petro
Venezuelan President Nicolas Maduro has announced that his country will begin an international pre-sale of its new cryptocurrency, El Petro, on the 20th of February. Unlike other cryptocurrencies already in circulation which are effectively digital fiat currencies, El Petro’s value will be directly backed by/pegged to Venezuela’s vast oil reserves. […]