"2018 marks the year in which the Shanghai International Energy Exchange finally launches an oil contract denominated in Chinese yuan, a move with tremendous geopolitical and financial consequences.

The global futures market for oil trading has for years been governed by the dollar-denominated benchmarks of West Texas Intermediate and Brent crude. Combined, these represent a daily turnover of more than two billion barrels – some 20 times the total daily world oil demand."

This is very interesting also because there is a bigger question: the centrality of US as hubs of stocks and derivative economy.
This position is very important because gives a centralized advantage of dollar over other value: you have to use dollars to trade a lot of assets.

Unfortunatley:

1. US stock market is the most important in the world because it is based on the world's biggest economy, and China is working on the medium term to take this "first-economy-position"
2. A China-based derivatives market (that are the most negotiated asset of all the world) would give an important position to US's competitors as sistemical hub.

In my opinion we are still distant from this scenario.. But in medium-long term everything can happen