Weekly Reports: Get updated about Bitumen Market

Weekly Oil Report: Covid Concerns Flaring Up

[vc_row][vc_column][vc_column_text]India established new lockdown policies last week. New case numbers are rising in many countries all over the world. The global scale vaccination is not fast enough to stop the virus. The recent flare-up is a concern for oil demand. In the last meeting and before the new Covid concern, OPEC eased the cut for...

Steady Bitumen Demand in Iran and India

Finally, Iran and the USA reached an agreement for indirect talks aimed at reviving the 2015 agreement to restrict Iran’s nuclear program in exchange for sanctions relief. It is heard that the U.S. is planning to lift some of the sanctions that were in line with JCPOA. This news was enough to see frequent fluctuations...

Tight Supply and High Demand for Recycled Oil and Paraffin

The base oil market in Europe, Africa, and the Middle East is experiencing unprecedented conditions. The prices of lubricants and base oil have increased significantly since the beginning of 2021. Crude oil price declined more than $3 per barrel after the OPEC+ decision to increase the monthly production from May to July at Monday's meeting. Other countries...

Weekly Oil Report: OPEC Shocking Rollover

[vc_row][vc_column][vc_column_text]On Thursday, the OPEC meeting shocked everyone by expanding the production plans. Saudi Arabia implicitly declared that it will decide on the voluntary production cut on its own. The reason for the increase was the anticipation of higher demand in summer. Although, OPEC was under pressure by the United States and India to supply more crude...

Recycled Oil Price Rising Alongside Demand

While Iran's trading market is warming up again, market conditions appear to be changing after this break. During the last week, Infinity Galaxy observed a very smooth market of Recycled Base Oil because of the New Year holidays in Iran and lower supply levels. On March 28, a growth of about 2-11% happened to all...

New Deal on Iran's Oil and bitumen

In the last week, the Iran market almost started its activity but the shadow of the last days of unofficial holidays did not let us see a dynamic market. During the time, Jey and Pasargad refineries supplied bitumen and there was a balance between their demand and supply with no competition. On April 1st, Indian refineries increased...

Weekly Oil Report: Ever Given Briefly Flipping the Market

On March 23, the Ever Given vessel, a 1,300-foot container ship, veered to the right as it was traversing the Suez Canal and blocked the traffic between the Red Sea and the Mediterranean. The Suez Canal links the Mediterranean Sea to the Red Sea, a major shipping route between Asia and Europe. Giants shipping companies...

A Bitumen Price Wave On the Way

Due to the New Year holiday in Iran, the internal market was almost quiet. Companies were busy with their last year commitments. The shipping lines were in the same situation, only two direct vessels sailed out to the Indian ports. Monitoring bitumen prices in Iran within the last year shows that from the beginning of...

Recycled Oil Market from April 2020 Till April 2021 At A Glance

April is coming and many importers expect prices to fall while there is no sign of declining. Looking through the recycled Oil market from April 2020 to April 2021, we found out that this is the first year in recycled Oil export history that the price has doubled in less than a year. In April...

Weekly Oil Report: The Rally Is Over

[vc_row][vc_column][vc_column_text]It was a tough week for oil. As infinity Galaxy reported, Brent touched prices below $65. On 18 March, Brent and WTI dragged down about 9%. Yemen attacked Aramco, the world’s largest oil and gas company, with long-range missiles. Although Aramco’s oil reserves were safe, possible future attacks of Houthis are a real concern for...