China’s Petro-Yuan Contracts on Steady Rise Amid Renewed US Sanctions on Iran

China’s Petro-Yuan Contracts on Steady Rise Amid Renewed US Sanctions on Iran

Washington’s intention to re-impose the “toughest” sanctions on Iran appears to be playing into the hands of Chinese investors and oil futures traders, analysts have come to believe. Shanghai crude oil futures ISCc1 have recently seen a significant uptick in their trade volumes, which hit a record 250,000 lots last Wednesday, a day after Trump announced the US was withdrawing from the 2015 Iran nuclear deal.

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