An oil bourse is a commodities exchange where energy commodities such as crude oil and

natural gas Natural gas (also called fossil gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbo ...

are traded. Examples include the

New York Mercantile Exchange The New York Mercantile Exchange (NYMEX) is a commodity futures exchange owned and operated by CME Group of Chicago. NYMEX is located at One North End Avenue in Brookfield Place in the Battery Park City section of Manhattan, New York City. T ...

and the

Intercontinental Exchange Intercontinental Exchange, Inc. (ICE) is an American company formed in 2000 that operates global financial exchanges and clearing houses and provides mortgage technology, data and listing services. Listed on the Fortune 500, S&P 500, and Russe ...

. In 2005, an Iranian oil bourse was announced and promised to offer an alternative to trading oil in

petrodollars Petrodollar recycling is the international spending or investment of a country's revenues from petroleum exports ("petrodollars"). It generally refers to the phenomenon of major petroleum-exporting states, mainly the OPEC members plus Russia ...

, using instead the

petroeuro Petrocurrency (or petrodollar) is a word used with three distinct meanings, often confused: #Dollars paid to oil-producing nations (petrodollar recycling)—a term invented in the 1970s meaning trading surpluses of oil-producing nations. #Currenci ...

as its trading currency. Despite several attempts to implement it over one and a half decades, the Iranian oil bourse never got off the ground and in January 2020 was officially cancelled.

References

Commodity exchanges {{Stockexchange-stub