I am an INDEPENDENT Certified Financial Analyst (OeVFA, EFFAS) who worked as a financial journalist for 15+ years and now evaluate global market trends. Analyzing financial and political news permanently I want to share my insight with those who understand that we approach an era of global redistribution of wealth. The US-European centric approach will not work much longer. Five billion people in the developing countries will demand their fair share of the world's resources.

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Iranian Oil Bourse Started Trading Today, Will Also Accept Roubles

Posted on February 17, 2008

Follow up to the most-read post of this blog. The Iranian Oil Bourse (IOB) began trading today, according to media reports, most of them Arab sources. This is almost a year later than originally planned.The first day of trading saw turnover of 100 tons polyethylene. Iran produces 22 million tons petrochemicals annually and claims to be the #2 producer behind Saudi Arabia. Oil Minister Gholam Hossein Nozari said that trading in crude oil will come at a later stage with no specific date set yet. The first phase should operate for a while and we should find out its strong and weak points in or...

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