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Weekly Bitumen Report: Bitumen Price Stability in Other Regions, Rise in Iran and India

According to Reuters, the U.S. Federal Reserve increased the interest rate up to 0.25%. Such a surge can lead to the strengthening of the dollar and a decrease in oil demand. In the meantime, OPEC+ agreed to reduce oil production by up to 1.16 million bpd to maintain the balance of the oil market. At...

Weekly Bitumen Report: Iran Uptrend of Bitumen Prices and its Fall in Europe

On November 27, the ceasefire between Israel and Hezbollah started at 4 A.M. local time. However, Israel's army informed the residents of Southern Lebanon not to return to their homes for the time being. It is still not clear whether Israel has any ceasefire plan with Hamas or not. Simultaneously, within the last week, Donald...

Weekly Bitumen Report: Bitumen Prices on the Rise in Iran

On the 1000th day of the Russia-Ukraine war, Russia targeted more than 100 regions of Ukraine with ballistic missiles. At the same time, Joe Biden and the U.K. authorized Ukraine to use long-range missiles to attack Russia. It is still unclear how Trump can end this war before entering the White House on January 10....

Weekly Bitumen Report: Uptrend of Iran Bitumen Prices Continues

During the last week and following the victory of Donald Trump in the U.S. election, the Republicans gained the majority of the House of Representatives and took control of the Senate. Hence, the Senate and the House will fully support Trump's agenda. In the Middle East, the tough war of Israel against Lebanon and Gaza...

Weekly Bitumen Report: Effects of Trump's Victory on Global Financial and Commodity Markets

The most important news of the week was the victory of Donald Trump in the U.S. presidential election, and he became the president for the second time. It was a significant achievement for the Republicans after running Trump’s election campaign for one year. On November 6, the metal exchange of China dropped by 3% which...

Weekly Bitumen Report: The Uptrend of Bitumen Despite Crude Oil Decline

On October 26, at midnight, Israel's retaliatory airstrike attack against Iran happened. After that, Iran requested an urgent session of the United Nations and asserted its right to retaliate. At the same time, Israel continued its attacks in Lebanon and Gaza, leading to numerous casualties. The U.S. presidential election will be held in less than...

Weekly Bitumen Report: Continuation of Price Soar amid Middle East Tension

Antony Blinken, United States Secretary of State, traveled to the Middle East for the eleventh time last year. The purpose of this visit was an attempt to reduce tension in the Middle East, however, the level of geopolitical risks is strongly high. Israel’s threats against Iran are still going on and the region is worried...

Weekly Oil Report: Absence of Israel Revenge Pushed Oil Down

Oil fell by about 8% last week as tensions dropped in the Middle East. Watch crude oil technical analysis: Click for Special Bitumen Offer On Friday, Brent closed at $73.14, and WTI closed at $68.78. WTI is back to its falling channel which started in July. The double top pattern shows we can have more...

Weekly Bitumen Report: Bitumen Prices Surge Amid Middle East Tensions

During the last week, America sent the first series of high-altitude anti-missile systems, THAAD, to Israel. At the same time, Israel continued its military attacks against Lebanon and Gaza and kept threatening Iran with a retaliatory attack. On the other hand, Iran’s Minister of Foreign Affairs is holding his diplomatic tour to negotiate with the...

Weekly Oil Report: Fears of Supply Disruption Over Market

Iran and Israel disputes put more pressure on oil markets. Watch crude oil technical analysis: Click for Special Bitumen Offer On Friday, Brent closed at $78.85, and WTI closed at $75.44. You can see the mid-September uptrend channel on the 1h chart of WTI. The breakout pullback happened and it needs to pass above 78...