China is by far the world’s largest oil importer, and many producer nations are already more than happy to transact in yuan terms. With the US’s global power and reach waning, and given the success of CNY-based commodity futures in general, the Shanghai International Energy Exchange’s decision to launch a yuan-based crude oil future is a runaway success. Saxo Bank’s head of commodity strategy Ole Hansen explains why this could be an outrageous prediction for 2018.

http://video.saxobank.com/video/20232771/outrageous-predictions-2018-china-rolls-out-the