Weekly Reports: Get updated about Bitumen Market

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...

Sudden Surge Of Energy Demand

Last week market was under the influence of several varying factors. In Iran, USD value against Rial was strengthened in late January 2021 due to purchase demand. This scenario was reversed once Joe Biden was officially elected and the currency value was falling. When it appeared to be no negotiation between Iran and the U.S,...

Weekly Oil Report : A Week For Oil And Stocks

The second week of February was a calm and generous week for industries and oil. The market acted reasonably and played hopefully for a better future. Vaccines efficiency was approved with more certainty, in addition to the program of the pharmaceuticals to increase the doses. A wider and faster vaccine distribution leads to more immunity...