Weekly Reports: Get updated about Bitumen Market

Weekly Bitumen Report: Jump in Crude Oil Price

The assassination of the number two figure of Hezbollah at the borders of Lebanon, along with the simultaneous assassination of the head of Hamas's political bureau in Tehran, both by Israel, caused oil prices to increase by about $4 by Thursday, August 1, returning from its lowest level in the past seven weeks. The surge...

Weekly Oil Report: Bad News for Crude Markets

On Friday, Brent closed at $79.61 and WTI closed at $76.41. Watch crude oil technical analysis: Click for Special Bitumen Offer The head and shoulder pattern, shown last week, was fully completed throughout the week. Oil dropped sharply on Friday and it caused July to be a bad month for crude up to now. However,...

Weekly Bitumen Report: Bitumen Price Surge Despite Worries on Crude Oil Fall

On July 21, Joe Biden dropped out of the US presidential election and 2 days later, Kamala Harris was officially appointed as the candidate of Democrats. It was previously announced by AXIOS news agency that Biden would drop out of this election during the weekend. This led to a weak improvement in commodity markets. However,...

Weekly Oil Report: Concerns Pile Up About China’s Demand

Oil dropped by about 3% due to fears about China’s demand. Watch crude oil technical analysis: Click for Special Bitumen Offer On Friday, Brent closed at $82.60 and WTI closed at $78.58. Although price fluctuates in the same range as the last 6 months, it recorded a long falling candle on Friday. The head and...

Weekly Bitumen Report: Fundamental Support for Crude Oil and Bitumen

The failed assassination attempt of Donald Trump and the increase in his victory possibility in the next presidential election of the US caused the commodity markets to maintain their uptrend during the last week. In this political confusion in the campaigns of the Democrats and Trump's more success will probably strengthen the current situation. In...

Weekly Oil Report: Slower Demand Confused Traders

On Friday, Brent closed at $84.95 and WTI closed at $82.14. Despite a 2% fall, it stayed above 82 which is a strong psychological level. Watch crude oil technical analysis: Click for Special Bitumen Offer Purchasing power has decreased but the general market sentiment is not turned down. Demand and expected Fed cut in September...

Weekly Bitumen Report: Support of Bitumen Price Continues

In the second round of Iran's presidential election, Masoud Pezeshkian was appointed as the president of Iran. Considering his political views and economic programs, it seems that the approach of Iran’s new government is negotiation to reduce the tension. His swearing-in ceremony will be held on 30th July. In America, there has been a wave...

Weekly Oil Report: Fundamentals Stay in Favoure of Crude Oil

July started with over 2% growth for oil. Brent closed at $86.83 and WTI closed at $83.29. Watch crude oil technical analysis: Click for Special Bitumen Offer Price is still on the way to touch the blue resistance. In 4h timeframe, a short-term support line is guiding the price to hit 90. Unless the price...

Weekly Bitumen Report: Global Election Season and Uptrend of Bitumen and Crude Oil

The first US presidential debate was held and many believe that Trump was its winner. Later, the Democratic pressure on Biden increased to drop out of the election. Simultaneously, the run-off presidential election of Iran will be held on July, 5. The economic and political plans of both candidates are absolutely against each other and...

Weekly Oil Report: Crude Prices Climbed Due to Geopolitical Risks

June ended with 3 bullish weeks for crude oil since geopolitical tensions grew constantly. Watch crude oil technical analysis: Click for Special Bitumen Offer Brent closed June at $84.86 and WTI closed at $81.44. Price is trying to hit the top blue resistance for the third time on weekly and daily timeframes. Conflicts in the...