Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (16963)	4/9/2016 9:37:51 AM
From: Goose94	Read Replies (1) \| Respond to of 202922

Crude Oil: *Iran fights for market share.* Iran has already said that it would not participate in the OPEC production freeze deal, arguing that it would not tinker with its output until it has brought exports back to pre-sanctions levels. Now it is stepping up its efforts to win back market share by undercutting Saudi crude in Asia, discounting its oil for the third consecutive month after seven years of selling at a premium. The National Iranian Oil Company will sell light Iranian crude at 60 cents below the Middle Eastern benchmark price. It will also sell the Forozan Blend to Asia at a $2.43 per barrel discount to the Oman and Dubai benchmarks. Crucially, the discount will be 3 cents per barrel cheaper than Saudi Arabia’s medium variety, a similar blend to the Forozan. “Unquestionably, since the lifting of sanctions, the Iranians have become a force to be reckoned with in global oil markets,” John Driscoll, chief strategist at JTD Energy Services, told Bloomberg. “Their mission is to recapture market share, pure and simple.”