Oil Price news website, quoting Reuters, announced this on November 5, adding the discount of Iran Light crude to ICE Brent has now narrowed to below $4 per barrel, from $5-$6 a barrel earlier this year.

"Reports also emerged in October that Iran is offering its crude to China’s independent refiners at narrower discounts to Brent, as sellers are seeking higher prices for the oil bound for the world’s top crude importer,", the Oil Price report added.

With Iranian prices now rising due to lower loadings last month, China’s independent refiners could further reduce processing rates toward the end of the year, as already low refining margins – even with the cheaper Iranian crude of recent months – are eating into their profits, the report said.

In a sign of rising Iranian prices, deals have been reportedly made at discounts of $3 and $3.80 per barrel to Brent on a delivered, ex-ship basis (DES), according to Reuters’s sources.

Meanwhile, no Iranian Petroleum Ministry official has confirmed either the report on Iran's lower loading in October or considering discounts. 

In early October, Iranian Minister of Petroleum Mohsen Paknejad visited oil and gas installations in the Persian Gulf at the height of Israeli officials' rhetoric on attacking Iran. 

The Minister of Petroleum visited Kharg Island's oil export installations and Assaluyeh, which is known as the capital of Iran's energy, where he, in a meeting with the oil industry workers, said: "I am not worried about the crises that the enemies of the Islamic Revolution are creating."