The 22nd Iran International Oil, Gas, Refining and Petrochemical Exhibition was held in the Iranian capital last week while the European states had stronger presence in the event due to the July 2015 nuclear deal known as the Joint Comprehensive Plan of Action (JCPOA).

Iranian crude oil traded down more than 4% to $45 per barrel in the week to April 28, showing signs of pressure from the slowdown in the global oil markets.