Weekly Reports: Get updated about Bitumen Market

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...

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...