Weekly Reports: Get updated about Bitumen Market

Weekly Oil Report: Iran-US negotiations and weak demand hit sentiments

Brent failed at $70 again and decreased about 5% last week. Brent closed at $66.39 and WTI closed at $63.85 after struggling with the strong resistance. Technically, crude oil price charts do not show enough strength to break through higher prices. It is strongly possible for Brent and WTI to see lower prices and continue...

Weekly Bitumen Report: Quiet Market of Bitumen Anticipating New Changes in Coming Weeks

Unlike 2-3 weeks ago, the bitumen market passed quiet days over this week. The exchange rate of USD was still fluctuating in a range of 22,000 – 23,000 Toman. This fluctuation can continue until there is a conclusion on the negotiations between Iran and the USA, it seems that both parties will reach an ultimate...

Recycled Oil Traders Moving Cautiously

Over the past week, recycled base oil prices have risen as mentioned in the last weekly report of the Infinity Galaxy. Reports indicate that coronavirus restrictions have been lifted in some parts of India. Therefore, demand is rising as expected. Due to concerns about the Covid-19 pandemic and cyclone in India, some importers have offered...

Weekly Oil Report: OPEC Still Expects More Demand

On 11 May, OPEC clearly stated to keep the supply steady as planned. The alliances have decided to increase production by about 2 million barrels per day. The demand from American and European countries rose after speeding the vaccination. Several cities succeeded to restrain the disease and made their cities mask free. Their fuel and...

Bitumen Market Outlook Following the Oil Price

The Middle East was under the influence of several political factors during last week: The serious war between Israel and Palestine Lifting 95% of sanctions that were imposed against Iran by Donald Trump Approaching the presidential election of Iran Negotiations between Iran and Saudi Arabia The exchange market of Iran observed a downfall trend during...

Market Transformation amid Political Games

While in recent weeks the market has been in a state of turmoil and confusion, the inevitable growth in prices is becoming more obvious after the market events and Iran's political situation. Many factors are affecting the growth of the market, among which the following can be mentioned: Rapid market changes due to political developments...

Weekly Oil Report: Crude Oil Surprised the Market

Oil moved up surprisingly up last week after two unexpected events. DXY devaluation Stocks rise DXY dropped during the week after some new financial reports, including Nonfarm Payrolls that was bearish for the market. With the dollar losing value consistently, commodities touch higher prices. It is for about three weeks that the dollar is depreciating...

Bitumen Sellers and Buyers in a Dilemma of Market to Find the Right Path

The export market of bitumen was struggling with four main issues: The general lockdown of India that was extended till 15th May 2021 for the time being, and it is expected to be extended more. There are some information showing that some importers reduced their rate to have a chance of faster sale of their...

Unprecedented USD Fall amid Pandemic Led to a Disoriented Market

The growth in base oil prices throughout Europe, the Middle East, and Africa slowed down in the past couple of weeks, but there are a few signs of descending pressure. While feedstocks for base oils are constrained, refineries are operating at diminished rates because of the lower demand for fuels. Raw material prices have fallen...

Weekly Oil Report: India and Iran Shifting the Market Short-Term Outlook

In recent weeks, oil experienced many contradictory reports. Some expecting the price to rise while some predicted a fall. Here we review the oil outlook for short term, mid-term and long-term visions. Oil short-term outlook is not much promising. Surprising events, including new waves of Covid-19 pandemic in many countries and Iran-US highly probable nuclear...