Thursday, October 18, 2007

Japan refiners pay for Iran oil with yen - watch the dollar on this move

Japanese oil refiners Cosmo Oil Co. and Japan Energy Corp. have started paying Iran for crude oil imports in yen instead of dollars, company spokesmen said Tuesday.Japan's fourth-largest refiner by capacity at 635,000 barrels a day -- said it has started paying for all its crude oil purchases from Iran in yen, starting with September loading cargoe

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