New Rules for Crude Oil Sale via Iran Energy Exchange

The Oil Ministry has announced new guidelines for selling crude oil via the Iran Energy Exchange. Procedures that determine base prices have been amended. 
Announced by Oil Minister Bijan Namdar Zanganeh Monday, the guidelines stipulate that the base price in each offer will be determined based on prices reported by key oil price indices, namely Nymex and WTI. 
Prices will be set based on the minimum prices quoted on trading day, according to the notice, published on the Oil Ministry's news portal Shana.