Weekly Reports: Get updated about Bitumen Market

Weekly Oil Report: OPEC Soothed the Tensions

Crude was still under negative sentiments during the last week of November. Falling by about 10%, Brent closed at $69.56 and WTI touched $66.39 at the end of the trading session of Friday. OPEC confidently approved the increase of supply for January 2022. On the start session of Monday, the market opened above the closed...

Weekly Bitumen Report: The Storm of Omicron is Leading the Commodity Markets

During the last week, all of the factors determining bitumen prices significantly affected each other compared to the previous weeks and it resulted in the severe fall of bitumen prices and it can be stated that it was devalued around 15% in the last month. The dynamic variables of this unprecedented fall can be mentioned...

Omicron Variant Resurge Brings Markets Turmoil and Confusion

Last week, Rex Fuels' Bitumen and Modification bitumen conference took place with more than 250 participants, 20 speakers, and 30 bitumen and petroleum pioneers and partners. Infinity Galaxy was proud to be among Indian friends and customers. In recent days, the trend of rising prices was stopped by the unexpected news of a new variant...

Weekly Oil Report: Covid Helped Biden with Crude

New fears have shocked markets of stocks and commodities. Crude oil that surprised traders by the rapid rally during recent weeks, stood as the leader of the plunge. Brent was closed at $71.65 and WTI Fell to $68.16 on Friday. The sharp falling movement and closing under the relative support might indicate more decrease during the...

Weekly Bitumen Report: Confusion of Market

The current week's report was prepared after the latest conference of Rex Fuels' Bitumen and Bitumen Modification in Taj Palace, New Delhi. Infinity Galaxy as the exhibitor of the conference could attend the event to meet all the valued clients and give the speech on the latest status of the bitumen market. It seems that...

Base oil and Caustic Soda Still Have Bright Future

We are preparing Infinity Galaxy’s base oil and lubricant market review while we are getting ready for the AME Conference in beautiful Delhi, India. Tomorrow, Infinity Galaxy stands as one of the exhibitors at the Rex fuels' bitumen and modification bitumen conference. We are all honoured to have Shri Nitin Jairam Gadkari, Ministry of Road...

Weekly Oil Report: Situation Turns Against Crude Rally

Bearish news could take over the few bullish factors of the market during last week. Brent oil closed the week at $77.69 and WTI fell to $75.64 at the end of the market on Friday. The gap between Brent and WTI has slightly increased again. Technically, the price has not passed over the critical $76...

Weekly Bitumen Report: Transportation Issues, the Main Concern of Current Market

Within last week, the rally of competitions continued among the refineries. The minimum and maximum percentages of the competitions were 14.64% in Tabriz and 43.57% in Bandar Abbas. On 16th November, the Indian refineries increased bitumen price by 57 US dollars per ton. Demands also seem to be recovering as many pending projects need to...

Chaos Continues to Confuse Traders

In some parts of Europe, the Middle East, and Africa, demand is strong for base oil, while it is slowing down in some other countries as usual at this time of year. In recent weeks, oil was fluctuating between $80 - $85. This could be due to declining demand and the need to reduce inventories...

Weekly Oil Report: Hesitations Lingering in the Markets

Oil was still under pressure by dollar powering, possible supply increase, and next year demand outlook. Accordingly, Brent finished the week with a loss at $81.14 and WTI at $80.82 on Friday. Although bearish factors have mounted, options traders are still betting on higher prices around $250. It is vividly clear for every market participant...