Oil markets are already among the world’s most volatile— prices can leap 3% overnight on news from Middle Eastern nations many investors couldn’t pinpoint on a map. Oil guzzlers like China and India suffer the additional indignity of having to pay for this fickle resource in dollars, magnifying price swings. China would love to pay in yuan instead: and after years of preparation, it is finally launching yuan-denominated oil futures to let it do just that. Actual oil market investors, however, are likely to be unimpressed. Created with Highcharts 5.0.14Slow GoingPercent of global oil demand Created with Highcharts 5.0.14%ChinaU.S.2002200420062008201020122014201651015202530 It makes sense for China to have its own benchmark: China’s oil bill shouldn’t remain forever pegged to the price of barrels from aging Brent fields off the coast of Britain, half a […]