Iran's Oil Bourse Will Start Operations Feb. 17

Iran's Oil Bourse Will Start Operations Feb. 17

www.bloomberg.com

Iran's oil exchange will start operations on Feb. 17, the official Iranian news agency IRNA said, citing the country's oil minister.

The Iranian rial will be used for all transactions on the Tehran Oil Bourse, Gholamhossein Nozari said today, according to IRNA.

(visit the link for the full news article)


Related News Links:
www.presstv.ir
www2.irna.ir



[edit on 2/14/08 by Angry Danish]

I wonder if there will be any other freak "accidents" that prevent it from opening. The 17th is a Sunday... kind of odd.

Should be some interesting times ahead.

www.bloomberg.com
(visit the link for the full news article)

Watch out for increased evidence of a nuclear arms program leading to a preemptive bombing mission...

What excuse do you think the Bush admiisrtation will use to go knock this thing to pieces? I hope it's not the old WMD's might be there. Like anyone with a pulse is going to buy that excuse again.
I don't worry to much about this one. The next oil conflict seems to be heading for Venezuela. Can't wait to hear the reasons for going in there and starting a bunch of crap!

Thanks for posting.

I asked and asked and asked about this earlier this week and everyone ignored me.

The 17th is a Sunday... wouldn't it start on the 18th of February? Just a thought... But yes, if it does start trading that would really hurt the dollar.

Oil rising to trade at an intra-day high above $94 today, was attributed to the Venezuela factor, and the possibility of flat OPEC production to offset dollar weakness and slowing 2nd-Q demand. Will oil specs discount a war premium as the 27th approaches? Dunno...but wether it was a valid thesis, or not, everyone and their brother is aware of the reputed connection between Shock & Awe/Iraqi oil in Euros.

This is actually pretty big news. Iran has quite the balls to pull this off so soon and in such an unstable period for the dollar. I wonder how the US will react physically and economically?

I thought this was supposed to happen on the 1st of FEB? Did the cable cuts delay this from happening?

Originally posted by aaaauroraaaaa
The 17th is a Sunday... wouldn't it start on the 18th of February? Just a thought... But yes, if it does start trading that would really hurt the dollar.

not all the world is christian centric you know!,i believe muslims day of rest is either friday or saturday,or perhaps both.

if us goes to war with iran,the price of oil will sky rocket,and economies round the world will crumble even further,especialy oil guzzling america.these are very intreresting times.tis a shame america didnt utilize its alternate energy tech then it would be able to act as it wishes!!.

Interesting... they are not switching to the Euro, according to the article, but instead to their OWN currency the Rial..

Just like Russia did last year with the Rubble (sp) .. and of course we all know how Russian American relations have greatly deteriated.

Iraq moved to the Euro before our invasion.. it makes sense that we would invade Iran as well.. and Europe will support the cause, because if America falls, Europe falls.

The Eastern World is fighting against the Western World.

Good work, Iran. Let's see how this plays out.

1st phase of Iran oil stock inaugurated on Kish island

The first phase of Iran's oil stock market started its work on Kish island in the Persian Gulf, southern Iran, on Sunday presenting oil and petrochemical products.

Well... I can't say I'm surprised it happened without too much problem (after the cut internet cables)... we'll see how things pan out over the next couple weeks.

I'll be holding my breath.