In December 2024, Brent crude oil prices reached at $73.86 per barrel, the lowest monthly average in the previous two years.
This reduction was mostly due to lower oil demand in China, which was impacted by the country’s economic slowdown and growing use of electric vehicles.
Additionally, OPEC announcements about increases the future supply, added to the downward pressure on prices.
Despite these factors, the market remained cautious due to ongoing geopolitical tensions and uncertainty about global economic development.
Below the last chart, you can click to read the weekly bitumen market reports in December 2024. In these reports, Razieh Gilani, the export manager of Infinity Galaxy has analyzed the bitumen market weekly and has examined the factors affecting the bitumen price fluctuations during this month.
Crude Oil Price Chart, December 2024
In December 2024, crude oil prices had an early drop, rising again by the end of the month. This increase shows hope for a better global economy and higher energy demand in 2025.
HSFO Price Chart, December 2024
The chart shows HSFO prices in Singapore and the Persian Gulf experienced a downward trend in early December, reaching a low point around mid-month. This suggests a potential decrease in demand or an increase in supply during that period.
Bitumen Price Chart, December 2024
The bitumen price Chart shows a relatively stable trend for most of December with minor fluctuations.
Click on the link below to read the Weekly Bitumen Report of Infinity Galaxy:
Weekly Bitumen Report:
Check the Infinity Galaxy website to become aware of the bitumen market condition and prices. If you have any questions or you would like to keep in touch with our experts, drop a line in the comment section.
