09-03-2016 06:17 via news.yahoo.com

Commodity traders in barter deals with Iran post-sanctions: sources

BEIJING/SINGAPORE (Reuters) - Global oil traders have entered into rare barter deals with the National Iranian Oil Company (NIOC), supplying Iran with much-needed gasoline in exchange for high-quality fuel oil, after most economic sanctions against Tehran were lifted in January. Commodity traders Swiss-based Vitol [VITOLV.UL] and Glencore , for example, have won the right to lift a combined total of at least 200,000 tonnes per month of Iranian fuel oil from March through May, according to four t
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