Weekly Lubricant Report: Geopolitical Tensions and Commodity Prices

The price of Brent oil has remained in the range of 80 to 90 dollars. In the past month, we have once again said that the danger of a new cold war between the United States and China has increased, and the Chinese Foreign Minister has again warned about it.

On the other hand, the nuclear file is being investigated in the International Atomic Energy Agency and its effects will be great on the Middle East region.

Due to the fact that there has been news about Iran’s failure to send the case to the Security Council, the dollar in Iran has fallen again and about 20% of the value of the Rial has returned within the last few days.

In general, there is less than a week left until the last working day in Iran, and after that the customs will be closed for a few days, and that is why the volume of exports has increased greatly.

Currently, the FOB Bandar Abbas caustic soda price is $650; recycled base oil is $750 and paraffin wax is $950.

This article was prepared by Mozhdeh Darbandizadeh, the account manager of Infinity Galaxy (www.infinitygalaxy.org).