>But China recently has been making huge strides in getting nations to swap to the yuan for oil. Rather than give any links go search for 'china oil yuan' and y

>But China recently has been making huge strides in getting nations to swap to the yuan for oil. Rather than give any links go search for 'china oil yuan' and you'll get countless articles all within the past couple of months about what China has been doing. Until people around the world can speculate freely on the yuan, and yuan denominated futures like people can with QA and CL, I don't see this having much impact. Speculators will make up most of the daily volumes, and most never want to take physical delivery of the "gold convertibility" yuan denominated oil futures on expiry, and most certainly want to be able to take their profits out of the yuan to whatever asset of their choosing. Without the the yuan floating, this will be a relatively non liquid market. >In particular China is attempting to even get Saudi Arabia to start pegging their oil to the Yuan, which would be an enormous blow to the US. Yeah, I don't see the Saudi's buying Chinese weapons and US weapons without the US giving it's approval [0], because they certainly don't have the same capacity as the US for their citizens buying Chinese goods. If the EU was actually serious about more trade with China, they should drop a lot of the anti dumping restrictions they have now on trade ;) [0] https://foreignpolicy.com/2014/01/30/why-did-saudi-arabia-buy-chinese-missiles/ https://foreignpolicy.com/2014/01/30/why-did-saudi-arabia-bu...