Weekly Reports: Get updated about Bitumen Market

The calm market waiting to ignite again in 2022

The base oil market has been slow over the past few days, as many operations have either been shut down or were operating slowly during the Christmas and New Year periods. There weren't any signs of price movements in the market, and most levels remained the same from the last report. However, there are some...

Weekly Oil Report: Holidays and Lockdowns Ruling over

Christmas is here and crude oil finished the year in the same range as last two weeks. Holidays got markets into sleep in many countries. Brent started Monday’s market at $75.75 and WTI began with $73.72 and climbed slightly down. The downtrend is not over yet with the negative sentiment of Omicron and demand fall....

Weekly Bitumen Report: Fears and Hopes of the Market

The world is struggling with the latest variant of COVID-19, Omicron. It has affected lifestyles, businesses, economies, etc. The commodity market is not an exception as well. There is not any clear estimation of the market trend. Currently, lockdowns have been reapplied in some European countries. Implementation of lockdowns in more regions can be expected....

Base Oil, Lubricants and caustic soda Trend in the Last Days of 2021

In the remaining days of 2021, crude oil prices have fluctuated between $70 and $76. It looks like 2021 will end with the same price range. The base oil and recycled base oil transactions are slower than the same time last year and the first half of this year. Here are some of the reasons:...

Weekly Oil Report: Crude Slides Under Pressure of Omicron

Getting closer to the end of 2021, crude oil is still under $75, as we mentioned in last week report on Monday. The market is full of fears of the new variant of covid once again. On Friday, Brent and WTI closed at $72.78 and $70.35 at the end of the session. They also started...

Weekly Bitumen Report: Dynamic Market Possibility

Last week market was almost turbulent under the influence of the perpetual determining factors: With the spread of the Omicron variant in Europe, gradual lockdowns appeared in different countries as a result of a quick outbreak. However, the deaths rate has not been much higher. Oil price was fluctuating in the channel of 72-76 US...

Hazy Markets of Base Oil and Lubricants

Base oil prices are experiencing calm this week across Europe, the Middle East and Africa. The Omicron variant of the coronavirus has reduced activity in markets around the world. Many countries are trying to prevent the spread of new species with new restrictions and temporary quarantines. Uncertainties continue to affect consumers' buying interests. Due to...

Weekly Oil Report: 2021, the Year of Uncertainties and Doubts

Crude got the chance to gain around 9% last week after news about the low risks of Omicron. Brent closed at $74.96 and WTI closed at $71.94 on Friday, 13 December. The current zone of crude seems to be dominating for the last days of 2021. Financial Market participants expected stronger economic reports during last...

Weekly Bitumen Report: Will the Market Stick to its Current Stable Position?

Last week was replete with numerous incidents, with fears and hopes! The price of vacuum bottom dropped by about 17 US dollars in the latest announcement of the IME. Simultaneously, some refineries like Isfahan, Tehran, and Bandar Abbas competed on VB around 4-11%. As a result of failure in the nuclear negotiations, US dollar value...

Will 2021 end with an inflamed Market for base oil and lubricant?

Last week, there was some uncertainty in the market for base oils and lubricants due to infection of the new Corona variant, named Omicron which was discussed in this article. Many countries closed their borders and imposed travel restrictions to reduce the spread of the mutated virus. This situation and OPEC+'s decision to increase the...