Iran selling oil at cut rates

Boo hoo. Iran is being forced to sell its oil at less than market prices and on improved credit terms. Improved for the buyers. Tehran has been offering a handful of potential customers in Asia, including India, 180 days of free credit, according to the officials. They estimate that each month of credit amounts to a discount of roughly $1.2 to $1.5 a barrel.But Gulf-based officials and European