Crude Oil
Weekly Crude Oil: The Growth of Crude Oil
During the last week, brent did not break the resistance of 80 USD and did not fall below it. At the same time, Emirates disproved the matter of exit from OPEC and it led to the upward technical trend of oil in the markets. However, in this upward path, some minor resistances were observed that...
During the last week, brent did not break the resistance of 80 USD and did not fall below it. At the same time, Emirates disproved the matter of exit from OPEC and it led to the upward technical trend of oil in the markets. However, in this upward path, some minor resistances were observed that prevented the growth of oil price and this trend seems to go on. There are rumors that Federal Reserve System might not increase the interest rate up to the previously agreed amount which will have another positive effect on the surge of crude oil price.
On Friday, 3 March, Singapore’s fuel increased 5 USD and reached 468 USD and most probably, this trend will continue till Monday, 6 March.
In the meantime, bitumen markets have seen growth as a result of crude price improvement and the highest growth can be seen in Iran.
Below, you can check several bitumen prices in different regions.
| Location | Price |
| Iran (drum) | $410 – $415 |
| Singapore | $500 – $505 |
| South Korea | $445 – $450 |
| Bahrain | $325 – $330 |
| Spain | $355 – $360 |
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