Weekly Reports: Get updated about Bitumen Market

Weekly Lubricant Report: All Markets Tend to Rise Along Crude Cut

Market participants become hopeful about the supply and demand of 2023 by the new voluntary cut of OPEC. The cartel admitted to being ready to continue the cuts for March and after as well since they want to avoid any surplus in the markets. This action has its own opposition including the USA which finds...

Weekly Oil Report: Back Above $80 By the OPEC Supply Cut

OPEC stimulated the market by continuing the cuts for April. But is it going to last? Brent oil closed around $79.73 and WTI settled above $75.65 on March 31. The oil price could get closer to the psychological resistance zone at $ 80 since Thursday. On Monday, the price opened by a nearly 5% gap...

Weekly Bitumen Report: The Uptrend of Iran is Going on

During the last week, oil price increased around 4.35% by the release of news about the partial improvements in China’s economy and the stop of export of Kurdistan’s oil in Iraq, it reached around 78 USD but it did not exceed 79 USD and there is still a strong resistance for more increase of oil...

Weekly Lubricant Report: Market Factors in Conflict Amid Contradictory News

Due to the release of positive news about China's economic situation and the cessation of Iraq's oil exports; Brent oil prices rose to around $79, but there is still a lot of resistance to higher oil prices. The risk of recession and economic crisis in the world and recession is a big factor for the...

Weekly Oil Report: The Struggle Is Not Over

Crude oil continued the weak movement after a slight comeback to an expected price level because of incentives from the Federal Reserve. Brent oil closed around $74.49 and WTI settled above $69.19 on March 24. Oil price moved a bit upward as was expected in the technical review of the chart. The price is now...

Weekly Bitumen Report: Shadows of Another Financial Crisis on the Market

Xi Jinping's travel to Russia increased the possibility of peace mediation between Russia and Ukraine. Formerly, China had mediated between Iran and Saudi Arabia to restart their relations. Still, it is not clear whether these negotiations will lead to peace or not. In the meantime, the continuation of the financial crisis in the USA led...

Iran's Recycled Base Oil Market during Oil Market Volatility and Banking Crisis

After the news of the bankruptcy of three banks and the possibility of this situation spreading to other banks, and the anxiety that has arisen in the second consecutive week, the price of oil is fluctuating between $70 to $75, with the lowest recorded price being $71. On Monday, March 20th, fuel in Singapore experienced...

Weekly Oil Report: Brent Falls by the Rising Fears of a Financial Crisis

Brent dropped by over 12% during the second week of March. The sudden fear of recession and a chaotic economic condition induced the fear leading to a quick reaction from traders. Technically, the falling pattern is not over but considering the lower selling pressure at this price, we might have a correction during the coming...

Weekly Bitumen Report: The Major International Incidents and their Severe Effects on the Market

Important political events affected commodity markets, including bitumen within the last week, and it can be said that fundamental factors overcame technical ones. On Friday, 10 March, it was announced that Iran and Saudi Arabia, two powers of the Persian Gulf, agreed to restart their political relations; it came true through the mediation of China....

Weekly Lubricants Report: Impact of Economic Turmoil on Lubricant Market

Last week, the price of Brent crude oil reached around $78. The bankruptcy of SVB bank in America, followed by news of the bankruptcy of two other banks in the US, has caused fears of a repeat of the 2008 global financial crisis. As a result, oil prices have decreased and reached around $78.  These...