Weekly Reports: Get updated about Bitumen Market

Threats of Sanctions on Russian Oil Shocked the Markets

With the escalation of the war in Ukraine and the fall of Kherson City, oil prices crossed USD 130 and reached its highest level in ten years. Factors that hit the markets the most are as below: European threats of sanctions on Russian oil US sanctions on Russian oil The departure of international companies from...

Weekly Oil Report: On the Brink of an Energy Crisis

Crude strongly surpassed $100 during the first week of March after no sign of weaker demand or increasing supply. Brent closed at $118.04 and WTI reached $115.00 on the Friday session. The high prices are an alarm to countries and governments but OPEC+ members seem to be enjoying as decided to stick with the former...

Weekly Bitumen Report: The Russia- Ukraine War and the Concerns in Commodity and Capital Market

The financial and commodity markets of the world experienced a turbulent week, filled with unpredictable fluctuations. Some of the global economists believe that it is probable to face another wave of inflationary stagnation in the world. Considering the current week's economic situation, it seems that the economic growth of Europe and the rate of production...

The base oil and lubricant market react to Ukraine invasion

Russia's invasion of Ukraine last week was the headline of the news, and it is likely that this trend will dominate the market for a while. For the first time since 2014, after Russia's invasion of Ukraine, crude oil prices hit a multi-year high and Brent crude hit more than $100 a barrel. freight charges...

Weekly Oil Report: World’s Nightmares Come True

Oil price surpassed $100 during last week, and Brent exceeded $102.07 as the highest price of oil since 2014. Russia's invasion of Ukraine prompted the prices aggressively; however, prices retreated to 90 gradually. Brent closed at $94.13 and WTI got to $91.92 on the last session of Friday. The turbulent situation has entangled the decisions...

Weekly Bitumen Report: Will Bitumen Skyrocket as Crude Oil?

The week started with the news about the pullback of 7,000 Russian troops from the Ukraine border and it lowered crude oil price up to 92 US dollars. But in the last 2 days, more authentic news was announced about Russia’s attack and finally, it came true on midnight of Thursday. As a result of...

Intricacy in Base Oil and recycled Base Oil Supply

The market for base oil and recycled base oil is facing insurmountable supply problems. The global base oil industry is also facing challenges. Refineries are unable to meet their planned commitments due to high demand. Prices inevitably continue regularly every month or two months by some vendors. Currently, the FOB price of recycled base oil...

Weekly Oil Report: Crude Falls Back as War Possibility Recedes

Oil prices declined after 9 weeks of consecutive growth after lower war possibilities and supply expectations. Brent oil closed at $91.66 and WTI fell to $92.00 on Friday trading session. Iran nuclear negotiations had a strong effect on the oil decline. After months of negotiations, Iran seems close to having an agreement with the US....

Weekly Bitumen Report: The Variety of Crises and Growing Trend of Bitumen Price

Different international crises were affecting the bitumen market during the last week. The crisis in Ukraine and the possibility of a military attack by Russia that is still a potential threat let the oil price get stable in the channel of 90 US dollars and even occasionally it touched the level of 95 US dollars...

Production Deficits of Base Oil and Lubricant Exacerbates

Low global inventories and limited surplus production capacity have pushed up crude oil prices in the short term. The world's total crude oil reserves are at a very low level. Forecasts show that oil prices increase to above USD 100 seems inevitable. Activities in Asian countries have intensified and everyone has returned to the market....