Weekly Reports: Get updated about Bitumen Market

Weekly Bitumen Report: A Sudden Crude Oil Decline

On Tuesday, September 3, two days after the discovery of the dead bodies of six Israeli hostages, the country witnessed major protests against Netanyahu. The protestors believed that he did not adequately protect the captives to ensure their safe return home. In the meantime, Biden also accused Netanyahu of not doing enough to secure a...

Weekly Oil Report: Recording a Decline For August as Demand Weakens

Oil closed August by about 5% decline. On Friday, Brent closed at $76.99 and WTI closed at $73.59. Watch crude oil technical analysis: Click for Special Bitumen Offer On 4h chart of Brent, you see a triangle forming the apex and the price is getting closer to the lower line. Considering the volume and RSI,...

Weekly Bitumen Report: Various Bitumen Price Directions in East, West, and Middle East

The attempts for peace negotiations between Israel and Hamas ended without any progress and even on August 28, Israel attacked Gasa Strip and killed lots of civilians. At the same time, Pentagon states that the oil tanker which caught fire in the Red Sea by the Houthis last week, is still on fire and oil...

Weekly Oil Report: Jackson Hole 2024 Pulled Oil 2% Higher

Crude oil increased as Jackson Hole 2024 took place on August 22. Watch crude oil technical analysis: Click for Special Bitumen Offer On Friday, Brent closed at $79.05 and WTI closed at $74.91. WTI had about 2% growth only in two days while it was constantly falling in days before. On Brent's chart, a diversion...

Weekly Bitumen Report: Recession Fear in China by More Tension in the Middle East

In a tele-conversation between Joe Biden and Benjamin Netanyahu, Biden stressed the urgency of immediate ceasefire in Gaza and agreements on hostage release. At the same time, at least 50 people were killed in Gaza in another airstrike of Israel and severe fire exchanged happened between Israel and Hezbollah. In the meantime, the authorities of UK...

Weekly Oil Report: Escalating Uncertainty in Global Markets

At the end of the week, WTI had a big dip leaving a 3% gap on the chart. Watch crude oil technical analysis: Click for Special Bitumen Offer On Friday, Brent closed at $79.59 and WTI closed at $75.41. Brent moved below 61% fib level despite the decreasing US Rig count for multiple weeks.  Gold...

Weekly Bitumen Report: Oil Price Jump by US Relative Economic Improvement and Middle East Tension

During the last week, 3 European presidents expressed their worries about the Middle East tension through a common statement. They asked Iran to refrain from any retaliatory attacks against Israel to avoid any damage to the probable peace trend. In the meantime, concerns about Iran’s possible attack on Israel are growing daily. On the other hand, Hamas...

Weekly Oil Report: Macroeconomy Dominating Commodities

After 4 falling weeks, oil recorded growth of about 3%. Brent closed at $79.70 and WTI closed at $77.00. The indicator’s divergence shows a possibility of price correction in short term. Click for Special Bitumen Offer Macroeconomic fears stressed many in stocks and commodities last week. Japan's Nikkei index recorded the biggest loss since 1987...

Weekly Bitumen Report: Concerns on U.S. Economic Crises Along with Raise of the Middle East Tensions

The international attempts to prevent more tension between Iran and Israel in the Middle East have not led to any positive outcome and Iran considers revenge against Israel to be its right. In the meantime, on August 8, there was some news about the possible Iran missile attack on Israel within the next hours of...

Weekly Oil Report: Does Assassination of Hamas Leader Push Prices Higher Again?

On Friday, Brent closed at $77.38 and WTI closed at $74.11. Watch crude oil technical analysis: Click for Special Bitumen Offer July closed with a 4% decline due to diminishing demand from China. On the 4h chart, you can see a double bottom forming a turning point. Fundamentally, rising geopolitical tensions in the Middle East...