Business And Markets

Enticing Terms for Oil Buyers on IRENEX

One feature is the possibility for buyers to settle payments entirely in rial or in foreign currency
Enticing Terms for Oil Buyers on IRENEX
Enticing Terms for Oil Buyers on IRENEX

Having hosted eight crude oil auctions since last year, Iran Energy Exchange is adapting to the possible needs of potential customers with the belated advent of the black stuff to its trading portfolio. 
Except for one initial enthusiasm for the new commodity in its early offerings, most of the subsequent oil offers have fallen flat with rarely any customer coming forward. 
Despite the fact that the first spoiler, and rightly so, is the hostile US restrictions on Iran oil exports, Ali Hosseini, the managing director of IRENEX and other capital market officials point to novelty of the offer and the time it could normally take for buyers to align with oil trading in the stock market. 


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