In April 2023, France and some other European countries were trying to end Russia’s war against Ukraine, but the economic effects of peace were uncertain. OPEC+ announced a production cut of 1.66 million barrels per day, leading to a 5% growth in oil prices, while the bankruptcy of three American banks contributed to Brent crude oil reaching its highest level.
Bloomberg’s report estimated the possibility of a recession among major economic powers, with the UK having a 75% chance and Joe Biden announced his candidacy for the 2024 US presidential election.
Bitumen prices remained stable in Bahrain and Europe, decreased in Singapore and South Korea, and expected to be modified in India due to a shortage.
Iranian bitumen prices were under pressure from competition and exchange rate fluctuations and the market remained fragile.
Take a look at charts and let us know your comments.
Crude Oil Price Chart, April 2023
HSFO Price Chart, April 2023
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Crude Oil and HSFO Report:
Bitumen Price Chart, April 2023
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Weekly Bitumen Report:
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