Weekly Reports: Get updated about Bitumen Market

Weekly Bitumen Report: The Political Incidents, the Strong Players of the Market

During the last week, two main political incidents were observed whose effects on the world economy should be traced in long-term. In the last meeting of China Communist party, Xi Jinping was appointed as the China’s president for the third time. However, the future economic outlook of China does not seem to be promising in...

Weekly Lubricant Report: A Positive Outlook for the Southeast Asian Base Oil Market

On 25th October, the WTI crude oil closed at 85.05 and the weakening of the U.S. dollar helped oil prices this week to keep WTI front-month prices at $86 per barrel. The American Petroleum Institute (API) reported a build this week for crude oil of 4.520 million barrels. Top officials from U.S. shale companies have questioned...

Weekly Oil Report: Uncertainty by Mixed Signals Hit Traders Again

The crude oil market acted uncertainly toward all the bearish and bullish factors in the market. But the uncertainty is not only for oil. Brent closed at $93.46 and WTI settled at $85.13 on Friday, 21 October. [embed]https://youtu.be/SWKLCt4tL1k[/embed] On the weekly chart of WTI, uncertainty is clear in the last candle. Buyers and sellers were...

Weekly Bitumen Report: The Smooth Days of Market after the Stormy Decision of OPEC

The market passed quiet days during the last week and the difference between the lowest and highest rate of crude oil was around 2 US dollars and it was fluctuating in the range of 91-93 US dollars. Also, the average of HSFO CST180 FOB Singapore was almost unchanged in the level of 383 US dollars....

Weekly Lubricant Report: Another Hit of Recession Fear

Over the past week, after OPEC's decision to cut 2 million barrels of crude oil from the beginning of November, the price of oil rose to $97, but then the price slowly decreased and reached $91 by October 19.   Some experts believe that this drop in crude oil prices is caused by America's decisions...

Weekly Oil Report: Quick Drop of Commodities

Crude oil fell by over 6% during the week. But Bitumen surprisingly increased or stayed steady. Brent closed at $91.62 and WTI settled at $85.60 on Friday, 14 October. https://youtu.be/WNK1gfOG2qU As you can see in the weekly chart of WTI, the fall was nearly half the former growth. It seems that the price is retreating...

Weekly Bitumen Report: The Renewed Growth of the Market after the Recent Shocks

After 232 days of the war in Ukraine, it seems that the atomic threats of Russia have found a new shape and now the analysts of the main organizations and even the White House are worried about these threats. On the other hand, after the 2-million cut of OPEC, the oil price increased by 98...

Weekly Lubricant & Chemical Report: The Heavy Shadow of OPEC Production Cut on the Commodity Markets

During the last week, with the reduction of 2 million barrels of OPEC, the price of crude oil increased from around $86 to $97. This increase of $11 caused the price of fuel in Singapore to increase by $37 within the last 5 days when the oil and energy markets of the world were open....

Weekly Oil Report: Is the Price Really on a Hike?

Crude oil had the biggest weekly growth since March 2022 and it shocked the market. Bitumen also got hot last week. Is this really a change of trend? Brent closed at $98.33 and WTI settled at $93.13 on Friday, 7 October. [embed]https://youtu.be/GrfSUyPqSQQ[/embed] In the daily chart of WTI, we can detect a hidden divergence in...

Weekly Bitumen Report: The 2-million Cut of OPEC and its Serious Effects on the Market and the 8th Nov. Election of USA

On Wednesday, 5 Oct. 2022, the 33rd meeting of OPEC+ was held which was the first in-person meeting after the emergence of Corona in the world. The members of this union decided to decrease oil production up to 2 million barrels per day from 1st November 2022. This is the biggest reduction after the reduction...