Analysis of Iran Energy Exchange (IRENEX) in the international ring leading up to (Dec 19 to Dec 24)

Analysis of the Iranian energy exchange market (IRENEX) Int. (Dec 19, 2020 up to Dec 24)
It seemed logical to trade (20) tons of furnace oil products of Shazand Oil Refining Company which uses as the shipping fuel last week.

It seemed logical to trade (20,000) tons of furnace oil products of Shazand Oil Refining Company which uses as the shipping fuel last week. However, due to the end of the year and the relevant holidays, it was thought that the ATK air fuel product destined for Armenia would not be in demand for this week. On the contrary of expectations, this product faced a competitive (4.11) dollar equivalent (1.08%) increase in comparison to the base price.
Due to the sanctions and shipping problems, it was unlikely to trade 87 octane gasoline from Bandar Abbas, Mahshahr light petroleum and naphtha through Iranian ports and these products were not traded, but the mid-naphtha deal of the Persian Gulf star gives us hope to trade marine other different products.
Examining the increase in prices in the Afghan market and the entry of Brent oil into the (50) dollar channel, we saw an increase in prices for 5000 ppm gas oil products from Mashhad oil depot and heavy hydrocarbons of Bouali Petrochemical. The 5000-ppm gas oil from Mashhad oil depot experienced a competitive (2.75) dollars equivalent (0.76%) increase compared to the base price. on the other hand, to the non-transaction of heavy hydrocarbons of Bouali Petrochemical shows that buyers have no hope to solve the loading problem of Bouali.
However, we anticipate that with the continuation of relatively high demand for gas oil to Afghanistan and the limited supply of the National Iranian Petroleum Products Distribution Company, both products will face price increases this week, and if both products are offered, they will be traded.
Simultaneously with the significant increase in prices of Iranian products, the Iraq market has been facing a decrease in prices. Therefore, the buyers of the Iraq market have stopped buying Iranian petroleum products.
With the normal butane deal of Kermanshah Oil Refining Company, it seems that exporting this product to Afghanistan or Pakistan, which are the main buyers of Iranian LPG, is profitable.
Finally, 95 octane gasoline from Arak to Azerbaijan, which has been offered for the first time in the Iranian Energy Exchange, promises to expand the energy exchange to global markets.
We hope to see more progress of the Iranian Energy Exchange in the international ring.

By: Shima Dehghani Azar

Dec 26, 2020 19:52
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