Iran Energy Exchange to Start Trade in Oil Futures

(Saturday, October 6, 2018) 10:03

Iran Energy Exchange will launch crude oil futures from next week as part of a plan to facilitate oil exports as US sanctions targeting its energy sector in November draw nearer.

According to an oil ministry deputy, oil futures will be launched for the sole purpose of exports and one million barrels will be offered on the stock exchange.

Ali Kardor, the chief executive officer of state oil company NIOC told IRNA on Monday that the timing of starting the oil futures trade is being determined.