Weekly Reports: Get updated about Bitumen Market

Weekly Bitumen Report: Time for Acting Agile

During the last week, oil price surprised all the commodity markets by its drop to $68. The main reason of this fall can be attributed to the Delta Variant and lockdowns in the different countries. Due to the existing global inflation and the existing demands of the market, oil price recovered and touched the level...

Base Oil and Lubricants Looking Forward to a Price Modification

The base oil market is getting more balanced than recycled and paraffin oils. The upward trend in prices stopped in June. Finally, the prices of base oil, recycled oil, and lubricant settled at their highest level ever. The situation of Covid-19 in some main markets has led refineries to be more cautious about increasing their...

Weekly Oil Report: A Surprise for Crude Traders

Crude started disappointingly in August due to the resurgence of Covid in more regions and tensions in the Middle East. Brent closed at $69.94 and WTI fell to $67.97 on the Friday session. The price is showing resistance to $70 prices. Technically, the price of crude is at a critical point which may see lower...

Bitumen Weekly Report: Trade war Affecting Markets

The variant of Delta is breaking out in China and new strict lockdowns are being applied over the country. In some commodities markets, a fall in rates was observed. On the other hand, some countries including Asia-Pacific, Indonesia, Thailand are facing lockdowns as the Delta variant has got severely spread. In the last days of...

Turbulent Market for Base Oil and Lubricants

After months of severe supply shortages and constant upward price adjustments, the situation of production and supply of base oils has developed. However, with the rising corona infection and the expansion of restrictions, transportation and travel have declined. There are fewer raw materials for the production of recycled base oil. Demand has not fully recovered,...

Weekly Oil Report: Hopes for a Steady Crude Market

Crude had a stable week at the end of July. Brent closed the week at $74.85, and West Texas Intermediate stopped at $73.66 on Friday, succeeding to keep close to Brent price. According to the technical analysis, the price has already stabilized between $70 to $75. We expect a steady market in the mentioned range....

Weekly Bitumen Report: Flourishing Markets Waiting Ahead

Crude oil dominantly ran the market forward during the week. As it was mentioned by Infinity Galaxy on Monday, crude oil fell down to $68 per barrel, but in the next few days, it touched the level of $75 again. This growing trend seems to continue for the time being. By the beginning of the Persian...

Weekly Oil Report: Quick Recovery Gave Hope

Oil crashed to $65 - $66 during last week after the OPEC decision. As we reported in last week review, the drop was predictable after the inconsistency and uncertainty among traders. Despite the sharp drop of crude, it could revive above $70 gradually. Brent could close the week at $73.36 and WTI ceased at $72.06...

Covid Changed Traditional Trading Patterns of Base Oil and Lubricant

The market of recycled base oil, like bitumen and many other petrochemicals, did not experience any major movement. The main reasons might be the market confusion over the OPEC+ decisions, the rise of delta variants of COVID, and uncertainty about the future of oil products. Brent fell below $70 per barrel last week and It...

Weekly Bitumen Report: Confusions Over Oil and Pandemic

The market has been acting confusingly after the decision of OPEC to increase production, and the fear of the Delta variant outbreak and its unclear global outcomes. Oil price experienced several ups and downs from 68$ to 72$ within the week. The fluctuations resulted in confusion of buyers in the markets of commodity whether it...