Weekly Reports: Get updated about Bitumen Market

Constructions Expansion Leading Bitumen Demand

As a result of OPEC+ decision to reduce the supply, oil prices are rising. Last week, Brent Crude Oil rose to more than $60 per barrel, Iranian refineries and suppliers expected the overall demand to rise from the various global market. However, such expectation did not come true and there were not any significant demands...

Robust Demands Of Recycled Oil

After a couple of quiet weeks for the oil market, demand is raising from February 3rd. Since the price of raw materials used for recycled oil production decreased in Iran, Indian importers expect a reduction in prices. However, due to the unpredictable situation of the USD and the possibility of Iran and the USA negotiations,...

Weekly Oil Report: Sharp Oil Growth

[vc_row][vc_column][vc_column_text]Reports on vaccinations efficacy invoked the sentiments in the way of better Pandemic management. Pfizer and BioNTech declared 91% efficiency in shots. Several other vaccine makers also released successful results and announced programs of distributing more doses of vaccines to the countries. Last week, at the end of January, Infinity Galaxy reported soaring of negative...

Ambiguity In Bitumen Market

The last week was dilemmatic for both buyers and sellers of petrochemical markets. There was not a strong demand in the market due to the price fluctuations. On February 1st, India released new rates of bitumen. It was up by almost 23$, and demand was expected to increase. The escalated prices in India could also...

Slow Movements of Recycled Oil Market

The week met volatile and unstable days for dollar and oil products. Prices have been fluctuating recently due to the uncertainty of the market about the pandemic and dollar rate. Indian refineries raised bitumen and petroleum products prices in February. The hike was about $ 22.9 for bitumen and about $ 4.8 for furnace oil....

Weekly Oil Report: The World In Hesitation

Pharmaceutical giants and vaccine makers announced hopefully about their jabs last week. Novavax, an American vaccine maker, announced their shots were 89% effective in the UK. Although, the trials were 60% effective in Africa, where a highly contagious variant of the virus exists. Johnson & Johnson, the American pharmaceutical cooperation, also declared their new shots...

Are The Negotiations On The Table?

One of the main players of this week market was value fluctuation of USD against Rial in Iran. One dollar varied between 229,000-242,000 Rials. However, approaching the end of the week, the market got more stable and the price of the market was more realistic. At the moment, market demand is not very promising and...

Weekly Oil Report: Pfizer Come Into Play

After the last week anxiety about another global lockdown, Pfizer and Biontech declared their positive prospect toward the future. They believe their vaccine can adjust to the new variant of coronavirus and protect the receivers. The news made the market more confident, and it brought a better sentiment for stability. However, the United Kingdom is...

Recycled Oil Market In Shadow Of USD

USD Fluctuations, in recent days, have caused the market to oscillate abundantly and recycled oil was not an exception. The price of petroleum products is constantly changing. As Infinity Galaxy pointed out in the recent analysis reports, the change in the US political situation has caused the USD to depreciate significantly against Rial, which has...

Biden Inauguration Leading The Bitumen Market

During the last week, commodities were all influenced by the political changes in the Washington and Biden presidential inauguration, USD dropped by 3-16% and comparing to other currencies including Iran. In only 3 days USD decreased up to 16% compared to Rial; therefore, bitumen price increased by about USD 40/MT.While oil price and market demand...