Weekly Reports: Get updated about Bitumen Market

Weekly Oil Report: Is Crude Heading for a Disaster?

Last week, plenty of turmoil happened to the oil market, including a new set of EU sanctions on Russian oil, an OPEC agreement to increase production, and price spikes despite dollar improvement. Oil prices often act inversely to the US dollars but crude grew over the last week despite the strong dollar. Eventually, Brent closed...

Weekly Bitumen Report: Increase oil Oil Price versus Stability of Bitumen Price

By the start of high driving season in the USA and Europe from first of June as well as the implementation of new sanctions of Europe against Russia, oil price jumped up to 123 US dollars. Infinity Galaxy had already estimated the range of oil price between 104-115 US dollars in May 2022, but the...

Weekly Lubricant Report: The Effect of Stagflation on Lubricant Market

June 2022 started with crude oil price reaching above $120 and the reason for this increase was two fundamental factors. The intensification of European sanctions against Russia, which has been applied since June 1, as well as the start of the US and European countries’ demand due to the increase in travel, will enhance the...

Weekly Oil Report: US Demand Season Pushing Prices

Crude oil closed the last week of May with gains for the six consecutive months. With about 6% growth on Friday, Brent closed at $119.20 and with 4% growth, WTI settled at $115.08 in the last trading session. Improving demand is highlighting the supply disruptions more than before. The high demand season in the US...

Weekly Bitumen Report: The Unprecedented Recession in Export Markets of Energy and Commodities

In the 12th week of Russia- Ukraine war, fuel and crude oil did not experience a significant growth. The range of crude oil was 110- 115 US dollars. Infinity Galaxy previous reports repeatedly mentioned the minimum and maximum level of 105 and 115 US dollars till the end of May, respectively. The market trend verifies...

Weekly Lubricant and Base Oil Report: Stagnation and Calm Conditions of the Recycled Base Oil Market

Crude Oil prices have fluctuated between $108 and $113 over the last week, up slightly from the previous week. On the other hand, market analysts are not very sure that this growth will continue, and it is assumed that the crude oil price will fluctuate approximately $105 to $115. Singapore furnace oil prices decreased nearly...

Weekly Oil Report: Bullish and Bearish News Colliding

Crude oil experienced a week full of volatility and indecisiveness under more pressure from demand and supply. Fears of recession, famine, new virus outbreaks, and tighter supply left market participants uncertain about bullish and bearish sentiments. Consequently, WTI fluctuated in the range of $104 - $116 and closed at $110.52 on Friday. Brent also withstood...

Weekly Bitumen Report: The Shadow of Inflationary Stagnation Affecting the Market Strongly

In the 85th day of martial attack of Russia to Ukraine, it seems Ukraine won some victories and excelled Russia. At the same time, Finland and Sweden requested the NATO membership and this matter raised oil price up to 114 US dollars. While, Turkey's disagreement with this matter dropped oil price to 109 US dollars....

Weekly Lubricant and Base Oil Report: In Spite of Predictions, Recycled Base Oil Prices Continue to Rise

In the 12th week of the Russia-Ukraine war, crude oil prices continued to rise and reached $114 as Ukraine appeared to have won victories in some cities, along with Finland and Sweden announcing for the first time that they wanted to join the NATO military alliance. This is in a situation where due to the...

Weekly Oil Report: Lower Demand Claims Could Not Pull the Price Back

Oil prices increased at the end of the week despite forecasts about weaker demand in 2022. Reports, mostly by OPEC and IEA, show that there will be a lower demand for oil in 2022 since inflation is still rising. However, the reports could not suppress the prices and Brent closed at $111.19 and WTI closed...