Business And Markets
0

No Buyers in Latest Oil Offer via IRENEX

No Buyers in Latest Oil Offer via IRENEX No Buyers in Latest Oil Offer via IRENEX

As per its earlier announcement, the National Iranian Oil Company on Monday offered one million barrels of light crude oil on the Iran Energy Exchange (IRENEX) but there were no customers. 
At the sixth oil offer on IRENEX, the seller set the base price at $59.63 per barrel and offered the commodity in cargos of 35,000 barrels each. Buyers were required to purchase at least one cargo. 
This is not the first time that oil on IRENEX had no buyers. NIOC didn’t find buyers for its oil during third and fourth rounds too, despite easing the purchasing conditions.

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com