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Iran fails to find any buyers for crude offered on exchange
 [ENGLISH.ALARABIYA.NET] Iran failed to find any buyers on Monday, in its latest attempt to sell oil to private companies for export on the stock exchange, the ISNA news agency reported, in a setback to Tehran’s efforts to bypass US sanctions.Crude oil trade is state-controlled in Iran, but to try to work round US sanctions, the government last year started to sell crude to private buyers through the stock exchange. However, a person who gets all wrapped up in himself makes a mighty small package... there were no buyers on Monday for the one million barrels it offered on the exchange at a starting price of $52 per barrel. In October, before US sanctions came into force, Iran sold 280,000 barrels at $74 apiece of the one million barrels it offered on the exchange. Two weeks later, it sold 700,000 barrels at $64 each. Washington re-introduced sanctions on Iran’s oil exports on Nov. 4 after earlier in the year withdrawing from a 2015 multinational deal that had lifted sanctions in return for limits on Iran’s nuclear program. Posted by: Fred 2019-01-22 |
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