31 janvier, 2006
iranian oil bourse IOB, markets prepare for the venue (short)
a investment consultancy website clearly states the IOB as the event to watch out for in 2006.
here full pdf report.
here an extract:
Iran, with it's oil and gas capacity, poses a large threat to the
economic stability of the US. Currently Iran has the third largest
oil reserves behind Saudi Arabia and Canada (although Canada's
reserves are largely in the difficult and expensive to extract form
of oil sands) and second largest natural gas reserves behind
Russia. The threat is in the form of the Iranian Oil Bourse (IOB) which is Iran's attempt to have its energy related commodities traded with the Euro as the base currency. Currently the US dollar is the currency in which oil is bought and sold in world markets.
Should there be a shift towards a "petroEuro" for this process, the result could be a global decrease in demand for the dollar and result in less demand for dollar denominated assets. The IOB is currently expected to go online in March 2006.
long story here
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