Sellers of Iranian crude to China have slashed prices after the Islamic Republic started shipping out millions of barrels following the interim peace deal that with the US.
Spot cargoes of Iranian Light crude for July arrival are being offered by traders and middlemen at a discount of $2.50 to $5 a barrel to Brent benchmark prices, said people directly involved in the trade, who asked not to be named as the information isn’t public. That compares with a discount of around $1 offered before the deal.
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