October 16, 2018 20:05

Oil Trading Listed on Iran Energy Exchange

An IRENEX official confirmed the news to the Financial Tribune on Tuesday, saying that investors and companies can take part in the trading process

To take part in trading, investors should pay 10% of the price in advance two hours before the offering takes place

Iran officially started spot oil trading on its energy exchange on Tuesday with the National Iranian Oil Company publishing a notice of offer on Monday, in which it outlined the terms and conditions of the trading mechanism.
In its notice published on the Iran Energy Exchange (IRENEX) website, NIOC said it was offering one million barrels of light crude oil on IRENEX and that the first session of trading will start on October 28, at 02:00 pm local time.

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