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Iran and 5+1 talks influence on Oil Prices

The Iran and 5+1 talks firstly caused Oil Prices Drop Amid 'Excitement' Over End to Iran Sanctions couple of days ago, but later the market backed off due to slow resume of Iran's return to production. These are heated transient reactions by market observers not the steady state of world scale economy.

Iranian New year and Oil Products Market

Oil products market in Iran is extremely affected by upcoming new year's holidays. According to the projections made this week due to increased demand and making some limitations on land transport, the prices of raw material have increased by $ 5 in average per Metric Ton.
This is the last week of Iranian year and with the start of Norouz (New Year), we will face some problems in transit port for at least 10 days.
However, we will try to serve all of our customers during the vacations.

Oil prices stabilized or ready for another drop?

Oil prices

Oil prices have stabilized somewhat around the $60 per barrel mark, and over the past few weeks oil has shown less volatility than what we have grown used to in the preceding six or seven months. Emad Honarparvar, CEO of Modiran Trading says: "Iran and Saudi Arabia continue to contradict in benefits from new oil prices, and this is not only about economics."

Iran Market hotties: Bitumen, Slack Wax and Base Oil

buy-bitumen.com: after a series of fluctuations in oil products market following crude oil prices fall and thanks to USD/Rls rate, Iranian market now can offer affordable prices for international traders and buyers.
In the Bitumen market prices are down to 431 USD per MT FOB BND for the most flexible payment terms, while the maximum price offered is around 460 USD per MT. The freight costs to Shanghai, Nhava Sheva and Jebel Ali remains the lowest, around 4-5 USD per MT adding local THC of 133 USD per 20' container (so called BOX)

Why oil prices fall and how long they fall?

oil products are influenced by oil market

Buy-Bitumen.com: Oil prices are set to fall after couple of co-incidents, 5 reasons Chris Pedersen writes bellow and latest failure OPEC made in their meeting last Thursday. We believe this fall is dangerous for future of world economy, because it can cause in a boom later in the prices, as some of oil producers will go out of production due to low prices of oil and high expenses of extraction.