As promised China launches petro-yuan on March 26th . The long-awaited step evoked a surge in global prices for oil with Brent Crude soaring to $71 a barrel for the first time since 2015. US crude benchmark West Texas Intermediate (WTI) reached the highest level in three years at $66.55 per barrel, before retreating to $65.53.
Experts see China’s yuan-dominated contracts as historic as the new futures symbolize the first time that foreign investors can access a Chinese commodity market. The launch ends years of setbacks and delays since the country’s first attempt at listing the securities in 1993.
You got a 100.00% upvote from @proffit courtesy of @smidge-tv!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
My feeling is that the isolationism and threat of trade wars are a means to isolate the north american markets (if NAFTA survives). Remember that once upon a time the US ran the entire federal government from tariffs. It might keep some value in USD that way.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Great one.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
You got a 75.60% upvote from @dlivepromoter courtesy of @smidge-tv!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit