Iran has stopped selling crude to British and French companies, the country's oil ministry said...

|By:, SA News Editor

Iran has stopped selling crude to British and French companies, the country's oil ministry said yesterday. But sources say Iran is struggling to find new buyers and is offering to sell an extra 500K bpd to Chinese and Indian refiners. If Iran can't find takers by mid-March, it will have to store unsold barrels on tankers or cut output. Crude +1.6% to $104.89.