Enticing terms for oil buyers on IRENEX

Except for one initial enthusiasm for the new commodity in its early offerings, most of the subsequent oil offers have fallen flat with rarely any customer coming forward.

Despite the fact that the first spoiler, and rightly so, is the hostile US restrictions on Iran oil exports, Ali Hosseini, the managing director of IRENEX and other capital market officials point to novelty of the offer and the time it could normally take for buyers to align with oil trading in the stock market.