Financial Tribune - In a new round of oil offer on the Iran Energy Exchange, the Iranian National Oil Company sold 70,000 barrels of heavy crude on Tuesday.

The company had offered 1 million barrels of heavy crude in cargos of 35,000 barrels each and sold two cargos at $63.51/barrel.

Buyers are required to pay 6% of the order value in rials two hours before the beginning of trading time. They settle the payment 90 days after trade.