Iran Mercantile Exchange opens

Oil derivatives and petrochemical products will be traded initially on the exchange, Ali Akbar Hashemian, director general of Iran’s Mercantile Exchange Co., said.  Crude oil contracts will be added after a review, Iran’s Oil Minister Gholamhossein Nozari said, without giving a specific date. Iran had been expected to start its own oil-trading market in 2005. Since then, Dubai has launched the Persian Gulf’s first bourse to trade sour crude oil futures.


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