Iran heavy crude nears 81 dpb

IRNA – Iranian heavy crude’s price rises by 2.09 dollars in the week ending on October 5 to approach 81 dollars per barrel.

Each Iranian heavy crude was sold for $80.68 in the afore-mentioned period, indicating a $27.59 increase, compared to the same period last year, according to National Iranian Oil Company (NIOC).

This is while its price was 78.77 dollars per barrel in the week ending on October 5th.

On the other hand, the price of benchmark Brent crude has recently reached a four-year record high of 80 dollars per barrel recently.

Economic experts say that banning Iran’s oil exports will disrupt global oil market business including supply shortage and high prices.