Asia Wary of Iran Imports As NIOC Mulls Discounts

摘要

In a sign that Iran is increasingly struggling to find buyers for its crude, National Iranian Oil Co. (NIOC) has started offering substantial discounts for spot crude to Asian buyers. Although specific discount levels could not be confirmed, a trader said it is not surprising that Iran has started offering lower prices since Western sanctions are making it increasingly difficult for buyers to find shippers, insurers to underwrite trade and banks to clear payments.