China moving forward with first crude oil futures contract

[Banjo]

The PetroYuan Is Born: Gazprom Now Settling All Crude Sales To China In Renminbi

http://www.zerohedge.com/news/2015-...m-now-settling-all-crude-sales-china-renminbi

 

[Banjo]

U.S. Ousts Russia as World's Top Oil, Gas Producer in BP Report

http://finance.yahoo.com/news/u-ousts-russia-worlds-top-090118951.html?l=1

 

[ogarbitrage]

China Rallies Around Yuan as IMF Mulls Reserve-Currency Inclusion

 

[ogarbitrage]

Follow up:

China to launch first crude futures contract no sooner than Sep

According to the latest draft seen by Platts, the crude futures contract will be priced in Chinese yuan, physically settled, and will allow bonded delivery of seven different types of crude oil: Dubai, Oman, Qatar Marine, Basrah Light, Upper Zakum, Masila and Shengli, with an average gravity of 32 API and 1.5% sulfur.

 

[nitro]

All very interesting. Thanks.