Weekly Reports: Get updated about Bitumen Market

Weekly Bitumen Report: Short-term Confusion and Long Term Optimism

During the last week, Syria returned Arab Union after 12 years. This might lead to the end of one of the most important tensions in the Middle East and North Africa. Whether this return leads to more political and economic peace and stability in the Middle East should be concluded by the passage of time....

Weekly Oil Report: Sudden Rush of Fear in Oil Markets

Crude oil shocked the market with the third falling week and getting below 80 dollars. Affected by oil, petroleum products had hectic days. On May 5, Brent oil closed around $75.27 and WTI settled above $71.29. Watch the technical analysis on our YouTube Channel: https://youtu.be/wCd45uT2aYQ Although Brent fell to 71.40 on Friday, it didn’t make...

Weekly Bitumen Report: The Oil Shock in Petrochemicals and Bright Prediction of the Market

During the last week, Russia was at the center of attention; some of the most significant events were the Kremlin drone attack, the broadcast of a documentary in Europe Union about the involvement of Russia's vessels in the explosion of underwater pipelines of Nord Stream in the last September, and Reuter’s report about the suspension...

Weekly Oil Report: Is the Price Exhausted to Go Higher?

Crude oil set for the 6th month of consecutive fall. The drop happened despite all the concerns about tight supply and demand improvement. On April 28, Brent oil closed around $80.25 and WTI settled above $76.61. The strong resistance at $87 is holding on since November 2022 and the price doesn’t seem to have enough...

Weekly Bitumen Report: Crude Oil Price Led to Market Fragility

On 25 April, Joe Biden announced his candidacy for the presidential election of 2024 in the USA. It is not still clear who would be known as his serious competitor in the Republican Party. Based on the latest survey of Reuter, Biden's current popularity is about 39%. It seems that changes in the financial markets...

Weekly Oil Report: Tighter Supply Couldn’t Surpass 90

On April 21, Brent oil closed around $81.35 and WTI settled above $77.91. As mentioned in last week’s oil report, the strong resistance finally turned down the price by 5.83%. The sharp bullish sentiment is now fading gradually, though, it is not over. There are some words in the market on 100 or 200 crude...

Weekly Bitumen Report: Temporary Pause of the Market Caused by Holidays

In the latest report of Bloomberg, the level of possible recession among 20 major economic powers of the world in 2023 was estimated. Based on the report, the possibility of a recession in some of the countries is as follows: United Kingdom 75%, United States 65%, China 12.5%, and India almost zero.In this report, at...

Weekly Oil Report: Bullish Sentiment Takes Control

Despite all the uncertainty, bullish sentiment could take over the market and push the prices higher. On April 14, Brent oil closed around $86.39 and WTI settled above $82.64. Technically, crude oil is struggling with strong historical resistance. As it is shown on the chart, this region pushed back the price two times. Currently, the...

Weekly Bitumen Report: Unclear Economic Status, The Leader of Market

Since the bankruptcy of three American banks, the brent price reached its highest level while the OPEC decision made on 2 April for 1.66-million-barrel cut and new economic data received from China show more support of the brent price increase.  China economic data shows that in March 2023, the inflation speed reached the lowest rate...

Weekly Lubricant Report: Recycled Base Oil Prices React to Shifting Economic Conditions

After OPEC reduced 1.6 million barrels of oil and increased the price of Brent oil to $80, the price is still at the channel $80. It has recorded its increase of 13 dollars for the last two days.  Despite the concerns of the reoccurrence of economic recession similar to 2008, yesterday one of the managers of...