Weekly Reports: Get updated about Bitumen Market

Weekly Bitumen Report: The Waves of Prices are still Upward

On 7 November 2021, the rate Iran vacuum bottom dropped around 6% considering fall of fuel and the bitumen market experienced a temporary fall of rates up to 25 US dollars but from 8 November 2021 and from the first supply of vacuum bottom by IME, frequent competitions happened during the weeks in different levels...

Failure of Expectations for Lower Recycled Base Oil Rates Despite Fuel Reduction

Fuel prices remained unchanged for the sixth day following the tax cuts in Indian states and the sharp reduction of petrol and diesel prices. Global crude oil prices have once again hit a three-year high and reached more than $ 85. OPEC+ decision to gradually increase production in December might push up crude oil prices...

Weekly Oil Report: Bullish and Bearish Aspects of the Market

After the third week of oil fall, the market began the week with a slight bullish gap. Brent and WTI closed the week at $81.73 and $81.34 on Friday. Technically speaking, the chart is still on an uptrend and there is strong resistance at $79. There are both bullish and bearish factors on the market....

Weekly Bitumen Report: Chaos of Market under the Influence of Oil, Demand, and Competitions

Within the last week, the market was stormy by the beginning of the week and the IME observed 22% competition on VB by Bandar Abbas refineries but after that, a downward trend was observed on VB competition that can be contributed to the start of Diwali in India, rejection of FOB price of 500 US...

Base Oil and Lubricant Markets Affected by Various Changes

Last week, major changes happened in the market of base oil and lubricants, including the following: Oil prices continued to break records of past seven years. OPEC decisions will be decisive at the meeting on November 4. Some sources predict that the decision won't increase supply by OPEC and will keep prices stable in 83-84$...

Weekly Oil Report: Fundamentalists Are still in Fond of Crude

Oil experienced the second week of loss at the end of October. The fall can be considered as a price correction after several consecutive weeks of gains. Therefore, fundamentalists are not much worried about Brent closing at $83.28 and WTI at $83.28 on the last session of the Market. On Monday, prices fell again after...

Weekly Bitumen Report: Record Breaking Bitumen Prices

Within the last week, the market of bitumen was affected by considerable changes. The severe competitions on vacuum bottom, the stability of oil price in the channel of 85 and too much demand to purchase bitumen caused the FOB price of Bandar Abbas to exceed more than 475 US dollar per ton in less than...

Sharp Price Increase Has Evoked the Market

Various factors have affected the market last week. changes in the base oil, lubricant, and recycled base oil market were mixed up. While some grades had increased, some fell or got out of the competition. Demand is rising, especially from the Indian market. Fuel prices in this country are rising steeply, which is further due...

Weekly Oil Report: Slight Hesitation Crawling to the Market

After weeks of the rapid rally, oil market participants showed slight reluctance to buy crude at the current levels. Although it got to $85.48 at the first of the week, Brent closed at $84.68 and WTI closed the week at $84.15 on Friday. However, it does not exactly mean the end of the rally. Reports...

Weekly Bitumen Report: Global Surge of Bitumen Price

As reported by Infinity Galaxy on Monday, oil price experienced another growing week and succeeded to reach near 85 US dollar. At the time of preparing this report, Brent crude oil stopped at the level of 84 US dollar which is a new record. Based on technical analyses, oil dealers have predicted oil price will...