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Iran Differs with Japanese Buyers over 2Q Prices

Iran's NIOC and its Japanese customers are still some way apart on prices forsecond-quarter contract sales, MEES understands. In negotiations in Tokyo lastweek, an NIOC team was insisting that the first-quarter price formula - spotOman minus 10 cents/B for Iranian Light and spot Dubai minus 20 cents/B forIranian Heavy - should remain unchanged for the second quarter. However,Japanese customers were pressing for an...