Weekly Reports: Get updated about Bitumen Market

Weekly Oil Report: Crude Rising in the Unsettled Market

In the third week of June, Brent closed at $72.43 and WTI hit $71.41 on Friday. During the week, crude faced two red days in a row but OPEC could turn the page on the next day after emphasizing the future demand as before. However, technically, the chart of crude is not promising for the...

Weekly Bitumen Report: Election Shadow on the Bitumen Market

As reported in last week's report of Infinity Galaxy, the upward trend of oil and fuel price was the main player of the market since the rise of demand and fall of oil storages encouraged the investors to enter this market. Iraq, as OPEC’s second-biggest oil producer, said crude will be traded between $68 to $75...

Warnings on Trading Substandard Oil Instead of Recycled Base Oil

In recent weeks, supply constraints have been a concern for the recycled base oil market. As mentioned in Infinity Galaxy last week's recycled article, legal barriers for the production of this product and the ongoing shortage of raw materials are among the main reasons for this issue. Oil prices are fluctuating on a scale above...

Weekly Oil Report: Blessed with Crude’s Market Powers

Last week, OPEC and IEA (International Energy Agency) brought more optimism to the market. The boost was expected as we were getting more successful vaccination programs. As the vaccination is getting faster, mobility rises in countries. Therefore, the demand for crude oil will be expanding. The chart of Brent oil and WTI is still not...

Weekly Bitumen Report: Unprecedented Gap in Rates Has not Stopped Market 

The market experienced a very surprising week. Within the last weeks, there was a big gap of about 45 US Dollars per metric ton between low-quality bitumen and Iranian embossed bitumen. The interesting point was the demand of buyers on all these offers. Any type of bitumen, at any rate, was purchased by Indians and...

New Export Rules and Production Restrictions Limiting Recycled Oil Trades

With the start of monsoon in Southeast Asia and India, contrary to expectations, the demand for recycled oil and base oil has continued to increase. The price of this product crossed $700 again. Considering the onset of summer and the development of vaccination, global demand for these products has surged as transportation and fuel consumption...

Weekly Oil Report: Demand Projections Boosted Price Growth

Crude finally succeeded to reach above 70 during the first week of June. On Friday, Brent closed at $71.27 and WTI closed at $69.38. Several stimulations helped the oil, including the OPEC meeting and dollar devaluation. Currently, Brent and WTI are at the strong statistic zone of $70 which they could not pass about 3...

Weekly Bitumen Report: Crude Leading the Market

The 12th international exhibition of Bitumen, Asphalt, Insulations and related Machinery (BAIEX 2021) was held during 27-30 May 2021 following the hygienic protocols in Tehran International Exhibition. More than 70 companies attended this exhibition to explore more developmental opportunities in the field. The political atmosphere of Iran is getting critical by approaching the day of...

India Cyclone and Pandemic Curbed the Base Oil and Lubricant Deals

As Infinity Galaxy mentioned in Monday's article, the decision of the OPEC+ meeting finally changed all variations. Oil prices hit two-year highs up to $70 after OPEC and its associates predicted higher demand and boosted output. In addition to the meeting effects, oil demand showing clear signs of improvement as vaccination plans are accelerated, and the...

Weekly Oil Report: Market Waiting for the OPEC Meeting

[vc_row][vc_column][vc_column_text]In the last week of May, Brent closed at $68.74 and WTI closed at $66.60. The market was green but there was no sign of powerful purchase. Crude did not get to their last high prices and the trend seems to be weak. Technically, the chart is not still determined to move up further. However,...