Prices for Group I Oils have reached to its highest levels in last three years in UAE. This particular gain has been due to gain in crude values and stringent supply of the oils. The other major reason for this hike is the limited supply from Iran due to holidays over there. The current price range floating in Iran for SN 500 is in between USD 700-750/MT. The current position for Group I prices in the Middle East remains healthy and most players expected prices to remain supported in coming weeks.
