Are The Negotiations On The Table?

One of the main players of this week market was value fluctuation of USD against Rial in Iran. One dollar varied between 229,000-242,000 Rials. However, approaching the end of the week, the market got more stable and the price of the market was more realistic.

At the moment, market demand is not very promising and we do not expect it to change until the Lunar holiday.

Comparing to the global markets, Iran’s market is growing at a slower pace. Consequently, the world will not be satisfied with large inventories of bitumen in Iran and they would at least adjust supply and demand through time.

Things were the same in the oil market. Despite the great indecisiveness within Iran market due to the USD fluctuations, the globe was much more stable. For instance, after Joe Biden’s appointment, USD devaluated against Rial up to 16%!

Compared to the last year, Bitumen export rate of Iran faced a significant fall. Currently, we shall wait to see what happens in February and March.

While Joe Biden has stated that negotiation with Iran would not be in his top ten priorities, according to some unreliable sources, it might be probable that Iran and the USA reach agreements to return to JCPA. In case of any agreement, the market will be uncertain with low supply and demand. Indeed, sellers and buyers should act cautiously in their deal to avoid heavy irrecoverable losses. We recommend that buyers gather all the data based on the facts of the market and make the best out of their deals, which we also mentioned in the last week article.