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Iran: 700,000 Oil Barrels Sold on Energy Bourse in 2nd Trading Session

Iran: 700,000 Oil Barrels Sold on Energy Bourse in 2nd Trading Session  Iran: 700,000 Oil Barrels Sold on Energy Bourse in 2nd Trading Session

The second offering of crude oil on Iran Energy Exchange saw booming business as traders purchased all the 700,000 barrels of Iranian light crude on offer. 
At 2:37 pm local time, three bids were made on IRENEX with the highest price quoted at $57.34 per barrel, against National Iranian Oil Company's base price of $71.59. NIOC lowered its base price first to $67.1 and then to $65.22 and finally to $64.97 per barrel, wire services reported.  It was after that the traders made bids and bought two cargos at $64.97 per barrel, one containing 245,000 barrels and the other 210,000barrels. 

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