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Market Chatter: Iranian Oil Sellers Seek Asian Buyers After 60-day Sanctions Waiver

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Sellers from state-owned National Iranian Oil are urgently seeking Asian buyers to take advantage of the 60-day US sanctions waiver, as Iranian crude and condensate on the water reach 68 million barrels, Bloomberg reported Tuesday, citing traders involved in the discussions.

Middlemen and representatives have reportedly reached out to Asian refiners, including the largest oil importers in India, Japan, and South Korea, for potential oil deals, which also include long-term arrangements as Iran plans to raise output.

Asian buyers, however, are not in a rush to buy Iranian crude, as most have already secured sufficient supplies and may be hesitant to commit to imports due to restriction uncertainties and a highly fluid geopolitical landscape, the report said.

National Iranian Oil did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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