Analysis: Asphalt Middle East commentary
New York, 7 August (Argus)
Middle East
Iran remains in a state of confusion and bitumen industry participants can do little other than wait for the situation to be clarified. The government is continuing its investigation into the smuggling of oil products, which offers lucrative returns owing to government controlled domestic prices. There is a conflict within government departments about prioritising domestic demand over exports.
Players in Iran have complained that their position is a fragile one and that bankruptcy is a threat to the less robust firms. Others who watch Iran closely say sellers there might try to use the current situation as an excuse to hike the price, although there is not much room to remain competitive if they do this.
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