Crude Oil Offer Resumes at Iran Energy Exchange

After a long halt due to lack of buyers, oil officials in Tehran resumed trading crude oil at the Iran Energy Exchange on Wednesday. 
State-owned National Iranian Oil Company put 1 million barrels of heavy crude and a million barrels of light crude on offer for the day. 
As expected, there were no buyers due to the sharp decline in the international price of oil as demand nearly dried up and the world almost ran out of space to store crude. Iran’s bid to sell oil is further constrained due to the new US economic sanctions.