petroyuan

Latest news and articles about petroyuan from NEX English

Oil Prices Surge Over 60% Amid Rising Yuan Usage

The global energy markets are feeling the repercussions of the ongoing war, with oil prices reaching record highs. This surge raises questions about the future dominance of the dollar in oil trade as the use of the Chinese yuan increases.

Expect decline of petrodollar dominance in favor of petroyuan

A recent report from Deutsche Bank highlights the potential rise of new currencies in crude oil pricing following the current war. It suggests a shift towards Asian markets and their currencies by Gulf states.