Weekly Reports: Get updated about Bitumen Market

Weekly Bitumen Report: The Uncertain Market Directions

As Russia's war against Ukraine gets one year old, around 1/4 of the Ukraine population seeks help. However, Russia announced a production cut of 500K barrels from 1 March in a one-sided decision. It is still unclear if this decision can lead to a surge in oil prices or whether this strategy might fail, like...

Weekly Lubricant Report: Feedstock Shortage Drove the Lubricant Price Growth

During the last week, the price of crude oil reached nearly $85 and the possibility of its increase up to the range of $90 can be seen. Although Russia announced that it is going to cut production by 500,000 BPD, this news could not have a serious positive impact on crude oil prices, and it...

Weekly Oil Report: Weak Movements of Crude and Metals

The world is still confused about the economic direction and it is clearly reflected in Oil and petroleum products. Brent oil closed at $86.43 and WTI settled at $79.74 on Feb 10. https://youtu.be/WueC6yO24e0 The price has been moving exactly as anticipated in the last video. Brent could not break through the lower resistance and it...

Weekly Bitumen Report: The Upward Trend of Price under the Effect of Global Market Improvements

The last week earthquake in northwest of Iran and then in Turkey and Syria led to the death of more than 15,000 that is expected to increase further. At the same time, it caused the closure of several ports in Turkey and had a significant impact on energy trends and increase of oil prices. At...

Weekly Lubricant Report: Expected Asia Market Price Increase in the Upcoming Fortnight

The price of Brent crude oil has reached above 83 dollars after several weeks and is likely to increase further. A major earthquake hitting southeast Turkey has caused operations at Iskenderun port to shut down and docks collapsed at this port. Currently, no ships can dock at Iskenderun for unloading, and several vessels have been...

Weekly Oil Report: Slope of Oil After New Job Data

Pressure on crude knocked the price down by 7 percent. Singapore fuel was volatile as oil but bitumen stayed almost steady. Brent closed at 79.73 and WTI settled at 73.18 on Friday, Feb 3. https://youtu.be/YkLRwWjbmR0 Price partially broke through the yellow resistance on Friday. There is still a possibility for a third drive to the...

Weekly Bitumen Report: Hopes for A More Promising Market in February

On the verge of the one-year war between Russia and Ukraine, Russia is planning a major offensive. Ukraine's Minister of Defence states that Russia is preparing a force of around 500K conscripted soldiers to mark the first anniversary on 24 February. In addition to the wide life losses, this incident might lead to a surge...

Weekly Lubricant Report: Market under the Severe Cold in Iran

In the last days of January 2023, as stated in the Infinity Galaxy crude oil analysis on Monday, oil tried twice to cross the $88 and reach $90, but it was unsuccessful both times and it has returned to the bottom. Finally, it stopped in the range of $85-$86. It seems that the recession predicted...

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...