Weekly Reports: Get updated about Bitumen Market

Surprising Demand of VB Inspired Bitumen Market

On March 15, the premium VB supply of the Isfahan refinery was surprising. In the event, 9 manufacturers purchased more than 1.2 million tons of VB for their next year consumption. The competition was about 8% among the manufacturers and the demand was about 3.6 million tons. This supply is equal to 20% of bitumen...

Recycled Oil Demand Hit The Market Ambiguity

Price fluctuation is still dominating the market and has made a vague situation for traders and refineries. These sudden changes have confused even market analysts. As Infinity Galaxy reported on Monday, a part of the market expects a lower oil price to $ 65, some estimate it to rise to $75. The unpredictable conditions of...

Weekly Oil Report: Will Demand Take Over The Supply?

[vc_row][vc_column][vc_column_text]Brent started the second week of March at $70.46 and ended with $68.67. Although OPEC+ and Saudi Arabia helped the price by limiting production, the market has sensed upcoming rising production possibility. OPEC+ had giant losses in recent years, and the current price of the oil is enticing to raise the production. Russia and Kazakhstan...

Bitumen Market Affected By Oil And Shipping Services

As it was expected, Iran VB price increased up to $11 MT and the downward trend of USD against Rial led to an increase of bitumen price in the Iran market. The dollar descending value was due to a rumour of releasing Iran blocked dollars by Iraq and Oman. However, it did not happen. The sanctions against...

Recycled Oil Soaring Along Crude Oil

Crude oil prices have risen to unprecedented levels in recent weeks. Attacks on Saudi Arabia's oil facilities, one of the world's top oil exporters, pushed oil prices above $70 for the first time since the pandemic. As Infinity Galaxy reported last week, OPEC+ agreed to limit oil production along Saudi Arabia agreed to stay low...

Weekly Oil Report : what could stop oil?

[vc_row][vc_column][vc_column_text]March started surprisingly! Oil hit 13-months high price and Brent did a 35% rally since January. On Friday, Saudi Arabia agreed to continue the 1-million-barrel lower oil production for another month. OPEC+ declared they are going to increase the supply only for 150,000 barrels this month instead of 500,000 barrels. Formerly, Goldman Sachs had predicted...

Bitumen Price On The Verge of Change

The week started with the common challenges between the USA and Iran. The USA agreed that Korea releases $7.5 million of Iran’s blocked debt. The release could have affected the drop of USD value against Rial, but at the same time, the USA army attacked Iran bases in Syria with the airstrikes. Indian refineries decreased...

Weekly Oil Report: US Government Bonds Riding The Market

Last week was surprisingly unexpected for markets. WTI oil increased up to $63, and gold fell to about $1717. However, traders expected a resurge for oil price around $57. Let’s discuss some of the possible reasons for the contrast and the situation in the first week of March. In recent week, the US government bonds...

Bitumen Market vs. Unexpected Oil Price

By the exceed of Brent Crude Oil up to $65/barrel, 2 scenarios were proposed: a) This is not a real price and most probably it will drop again b) The trend will be stable in a range of 65-67$. In the first 2 days of the last week, oil price decreased up to 62$ then...

Weekly Oil Report: Over Supply Possibility

3rd week of February was bullish for oil and stocks. As Infinity Galaxy reported oil could get to $65. Considering the financial reports, it was not surprising that oil did not stay all high and selling pressure took over the market. Core Retail Sales of USA appeared better than the forecasts which indicate an improving...