China's Oil Futures: Frazzle Or Dazzle For Foreign Traders?

[damirUSBiH + 327]

 China’s crude oil futures, to be launched on Monday, will be a major step in Beijing’s years-long push to win greater sway over oil pricing, but for western traders it will likely bring frustration as well as opportunity. “The rules around trading methodology will be unfamiliar for western houses....They’ll have to get to grips with a different set of trading parameters, including initial margin calculation, rolling between months, order cancellations ratios, etc. It’s all very different.” - said John Browning, chief operating officer of Hong Kong-based futures broker Bands Financial Ltd, which is an approved overseas intermediary for the INE. China is launching an oil futures market based on the Yuan. Will shake up global future’s markets & may challenge supremacy of US petrodollar as world’s main petro-currency?

[Petar + 76]

Not a chance. United States is the second largest producer of oil. By 2020, the largest producer. Oil will trade on a dollar, not a yuan or cryptocurrency. They devalue their currency once a year.