Gasoline, liquefied natural gas and diesel topped the list, according to data tracked by the Tehran Chamber of Commerce, Industries, Mines and Agriculture.
A total of $101 million worth of derivative contracts were also traded during the reviewed period, the TCCIM website reported.
Gasoline was the main traded item worth $77.9 million, representing 58% of the total trade.
It was followed by LNG and diesel worth $13.8 million and $11.2 million, respectively. Gas condensate, kerosene, fuel oil, raffinate, solvent 402 (white spirit), solvent 503, were the products sold via the energy bourse.
A cargo of 200,000 barrels of gas condensate was sold for the first time in the calendar month (started April 20), said Amirhossein Tebianian, the National Iranian Oil Company’s representative in charge of offering petroleum products on the special energy market.
IRENEX was given a mandate to offer crude oil in the autumn of 2018. Save for a few initial deals, the initiative has so far not delivered as expected.
The NIOC offered heavy crude oil at regular intervals in g the last fiscal year (March 2019-20) but suspended trade due to lack of buyers.
Earlier in the month, oil trade at the energy bourse resumed with NIOC putting up one million barrels of heavy crude and another million barrels of light crude.
Again there were no buyers due to the sharp decline in the international price of oil as demand nearly dried up. Iran’s efforts to export oil is further constrained by the new US economic sanctions.
The value and volume of trade at the Iran Mercantile Exchange in the month to May 16 jumped 88.3% and 61.1%, respectively, compared to the earlier month.
Companies traded 1.95 million tons of goods worth 110 trillion rials ($647 million) in the mercantile bourse during the month-long period compared to 1.21 million tons valued at 58 trillion rials a month earlier.
Regarding performance of industries operating at the IME, the value of trade in the petrochemicals and oil products category saw a 66.2% increase on a monthly basis. There was 46.9% growth in the volume of deals in the month.
Petrochemicals and oil products weighing 1.22 million tons and worth 51.57 trillion rials ($302.5 million) were traded during the month at the IME.
In the industries category, a total of 692,000 tons of goods worth 57.75 trillion rials were traded in the same month — a whopping 109.7% and 81.2% monthly growth in value and in volume, respectively.
In addition, 40,000 tons of different mineral products worth 960 billion rials were sold over the course of the month.