No buyer for furnace oil on Iranian mercantile exchange

Iran Materials 10 January 2012 17:53 (UTC +04:00)

Azerbaijan, Baku, Jan. 10 / Trend F.Milad/

Some 35,000 tons of furnace oil were offered on the Iran Mercantile Exchange on Tuesday. However, no buyer reached agreement with the National Iranian Oil Company.

The IRNA news agency reported on Monday that the furnace oil offer would be at the base price of 665.78 dollars per ton, and that it would be sold into the UAE markets for delivery as of Jan. 20.

Iran, which possesses the world's second largest gas reserves and third largest oil reserves, is trying to play a more active role in oil and petrochemical transactions in international markets.