Weekly Reports: Get updated about Bitumen Market

Weekly Lubricant Report: Fragile Stability in the Market

Oil prices in the second half of November 2022 decreased compared to the first week. During the first week, the price amounted to $95 while during the second week, it was $93. After the Republicans failed to take over the majority of the Senate in the United States, and the announcement of Trump's re-candidacy for...

Weekly Oil Report: Fluctuations Confused Commodity Traders

Volatile market of crude oil kept most of the commodity traders in limbo. While the trend of crude is hard to guess bitumen market is thriving. Brent closed at $95.82 and WTI settled at $88.91 on Friday, 11 Nov. https://youtu.be/5-QOMKR64HQ Oil headed down since the first day of the week. The recovery that happened in...

Weekly Bitumen Report: Hopes for a Positive Ending in 2022 for the Export of Packed Bitumen

The Senate election of the United States was held while neither the red storm of the Republicans was observed nor the strong support of the blue Democrats and it seems that the Senate parliament will be run by the Republicans and this will usually happen in each period. Yet, it is not clear that how...

Weekly Lubricant Report: Petroleum Products On the Way Up

On Monday, the price of Brent oil started at around 97 dollars, and at the end of Monday, the price of Persian Gulf and Singapore fuel reached its highest value during the last quarter with an increase of 10 dollars.  The increase in oil prices reached 98 dollars and after that, with the high price...

Weekly Oil Report: More Crude Bullishness by New IEA Reports

Above 4% growth of crude during the first week of November made many hopefuls for $100 oil. Bitumen and fuel had lively markets as well. Brent closed at $98.57 and WTI settled at $92.44 on Friday, 4 Nov. https://youtu.be/40_Dv8WRjfs October, as expected, brought oil growth after 4 months of fall. November also opened with positive...

Weekly Bitumen Report: The Hope for a Promising Market after a Long Recession

On the 253rd day of Russia's war against Ukraine, Russia shot more than 50 missiles throughout Ukraine, including Kyiv aimed to destroy its infrastructure. Also, Putin suspended the export of grain from Ukraine. On the other hand, it seems that after the appointment of Xi Jinping as China's president and Rishi Sunak's appointment as the...

Weekly Lubricant Report: The Start of Cold Season and Demand Increase

On October 31, Singapore oil and fuel were traded in the markets with a slight decrease, but oil did not fall below the $90 channel.  On Wednesday, after Yemen's Houthis threatened to attack Saudi Arabia's oil facilities again, the price of oil increased to $95. It seems that the inflammatory conditions in the Middle East...

Weekly Oil Report: Economic Turmoil and Political Tensions Evoke Crude

Crude, stalled in the range of 92 to 94 during the last week of October, shows that the market is still confused. Bitumen and fuel, however, tend to be rising. Brent closed at $94.14 and WTI settled at $88.28 on Friday, 28 October. [embed]https://youtu.be/t5eQ1Ykp1XA[/embed] On the weekly chart, it seems that the lower low in...

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...