Iranian Oil Prices Fetch a Premium for First Time Since 2022

Iranian oil is trading at a premium to the global Brent crude benchmark for the first time since May 2022, a sharp reversal from the steep discounts that have typically defined its sanctions-constrained trade.

The price for the nation’s main export grade swung to a premium of $1 a barrel to Brent on March 26, just days after the US temporarily rolled back some sanctions on the country’s oil, according to data from Argus Media.