Weekly Reports: Get updated about Bitumen Market

Weekly Oil Report: Feeble Positive Signals in Petroleum Products

As oil stays in the expected range, bitumen and petrochemicals look to be ready for new growth. Brent closed at 86.05 and WTI settled at 79.36 on Friday, Jan 27. https://youtu.be/24b6Guk8mfI The yellow resistance has been precisely touched several times and it is moving in the defined area of the chart. In the 4h chart,...

Weekly Bitumen Report: Conflicting Signals in the Global Bitumen Market

During the last week, the Brent crude oil price could not cross the $90 again, and the highest price it recorded was around $88. The reason is mainly the resistance created by the oil price of 90 dollars, which is due to the forecast of further economic recession in 2023 and the concern of the...

Weekly Lubricant Report: Erratic Base Oil Prices in the Middle East

With the beginning of the Chinese New Year in East Asia (Lunar New Year), orders from East Asia stopped. During the last week, despite the market's expectation of an increase in crude oil prices, it could not cross the $87. As reported on Monday in the Infinity Galaxy oil report, a strong resistance has been...

Weekly Oil Report: Crude Rises as China’s Demand Climbs

The moderate recovery of China led to a light growth of crude and Bitumen market became hopeful for more increase. Brent oil closed at $87.58 and WTI settled at $81.66 on Jan 20. https://youtu.be/LyJilZe4QdI Oil price is at a critical point as it is shown on the daily chart. Two long-term trend line has collided...

Weekly Bitumen Report: The Increase in Singapore and Iran Bitumen Prices after the Decrease in India

During the last week and by the announcement of a reduction in the monthly inflation rate of the USA, Brent crude oil reached around 87 USD after falling in 6 continuous weeks but that strong resistance did not break and it reached back to the level of 85 USD. Although China shows an increase in...

Weekly Lubricant Report: Unstable but Dynamic Lubricant Market

Due to the imposition of European sanctions on Russian crude oil and the cancellation of the policy of reducing the number of corona cases to zero in China, global crude oil markets are facing an unstable outlook. The cold in the Northern Hemisphere, especially in the Middle East, has increased production costs, and many production...

Weekly Oil Repot: Weakness Shadow over the Market

Oil climbed despite the weakness while bitumen stayed almost steady in most of the regions. Brent oil closed at $85.36 and WTI settled at $80.00 on Jan 13. [embed]https://www.youtube.com/watch?v=J8QXhdzhxMQ[/embed] On the daily chart of WTI, the price is near the top line of the wedge. You can see the possible resistances on the chart. Price...

Weekly Bitumen Report: Silence in the Commodity Markets after the New Year Holidays

After almost 11 months of Russia's war against Ukraine, the martial chief commander of Russia was replaced right 3 months after his assignment. President Putin initially proposed a ceasefire 2 weeks ago but its effects on the war and world economy are not clear. The simplification of Zero COVID conditions in China both led to...

Weekly Lubricant Report: Absence of a Clear Trend in Lubricant Market

Today we have the 100th weekly lubricant market report. We are happy that you were with us for 100 weeks. As mentioned in last week's reports, the price of Brent crude oil could not break the price limit of 85 dollars and reach higher than this price. But, in the current situation, the price is...

Weekly Oil Report: Slow Movements of Markets

Financial markets started 2023 on Wednesday and crude oil only fell further. Bitumen stayed in the former price ranges in most areas. Brent closed at $ 78.47 and WTI got to $ 73.64 on Friday, 6 January. https://youtu.be/qpolRh6-7Ow You can review the probable support and resistance on the shown daily chart of WTI. The price...