Iran’s Oil Supply to China Most Expensive in Five Years As Loadings Fall

Iran’s crude oil going to China these days is priced at its narrowest discount to Brent in five years as Iranian cargo loadings slumped last month amid fears that Israel would target Tehran’s energy facilities in response to the Iranian missile attack on Israel on October 1. The discount of Iran Light crude to ICE Brent has now narrowed to below $4 per barrel, from $5-$6 a barrel earlier this year, trading and refinery sources have told Reuters. The higher prices for Iran’s crude oil have been determined by lower cargo availability…