IRAN 

Greece ‘Facing Difficulty’ As Iran Oil Boycott Bites

With more of Iran’s crude oil customers joining EU/US sanctions, Tehran is responding to the oil boycott with a number of measures. These include discounts on spot cargoes, which for May and June contracts are understood to be around $3/B to Asian destinations. The reduced demand has led the National Iranian Oil Company (NIOC) to stockpile crude on board tankers. Meanwhile, the National Iranian Tanker Company...