Weekly Bitumen Report: Price Jump in East Asia and Europe, Stability in West Asia

In his latest statements, Donald Trump warned that “all hell” would break loose if every Israeli hostage is not released from Gaza until February, 15.

In his meeting with Trump, Jordan’s king confirms his disagreement with moving Palestinians out of Gaza.

On Wednesday, Trump had separate phone conversations with Putin, Russia’s president, and then Zelenskyy, Ukraine’s president, stating that America is ready to make peace between the two countries, but he wants Ukraine’s rare earth elements as a condition of further support.

Additionally, in an executive order, Donald Trump has applied the Maximum Pressure policy against Iran from 2 weeks ago.

Meanwhile, over the past week, reports of the seizure of Russia’s shadow fleet by European countries and maximum pressure on Iran, along with the intensification of sanctions, had caused Brent crude oil prices to rise to nearly $78 at the beginning of the week. However, at the same time, the increase in oil storage levels in the United States led to a renewed decline in global oil prices.

According to Reuters, on Wednesday, oil prices dropped because of a surge in crude oil reserves and the impact of concerns about U.S. tariffs on the market’s mental situation.

On February 12, crude oil prices reached $74.70. In the meantime, Singapore’s 180CST closed at $499. Bitumen prices in Singapore and South Korea remained unchanged at $445 and $420, respectively.

In Bahrain, the bitumen price is still fixed at $420. The range of bitumen prices in Europe fluctuated in the range of $430-480, hitting a new record.

India is anticipating a fall of about $4-5 on February 15. However, India’s market seems to be still attractive to the bitumen importers.

The price of bitumen in Iran remains at its previous level despite the increase in the dollar’s value against the rial and rising local costs. However, as the end of the year approaches in Iran and with the increase in bitumen prices in other producing countries, bitumen prices in Iran might be subject to rise.

To check the latest bitumen prices at different destinations, check the Infinity Galaxy website: https://infinitygalaxy.org/bitumen-price-today/.


This article was prepared by Razieh Gilani, the export manager of Infinity Galaxy.