Weekly Reports: Get updated about Bitumen Market

Weekly Oil Report: Slower Demand Confused Traders

On Friday, Brent closed at $84.95 and WTI closed at $82.14. Despite a 2% fall, it stayed above 82 which is a strong psychological level. Watch crude oil technical analysis: Click for Special Bitumen Offer Purchasing power has decreased but the general market sentiment is not turned down. Demand and expected Fed cut in September...

Weekly Bitumen Report: Support of Bitumen Price Continues

In the second round of Iran's presidential election, Masoud Pezeshkian was appointed as the president of Iran. Considering his political views and economic programs, it seems that the approach of Iran’s new government is negotiation to reduce the tension. His swearing-in ceremony will be held on 30th July. In America, there has been a wave...

Weekly Oil Report: Fundamentals Stay in Favoure of Crude Oil

July started with over 2% growth for oil. Brent closed at $86.83 and WTI closed at $83.29. Watch crude oil technical analysis: Click for Special Bitumen Offer Price is still on the way to touch the blue resistance. In 4h timeframe, a short-term support line is guiding the price to hit 90. Unless the price...

Weekly Bitumen Report: Global Election Season and Uptrend of Bitumen and Crude Oil

The first US presidential debate was held and many believe that Trump was its winner. Later, the Democratic pressure on Biden increased to drop out of the election. Simultaneously, the run-off presidential election of Iran will be held on July, 5. The economic and political plans of both candidates are absolutely against each other and...

Weekly Oil Report: Crude Prices Climbed Due to Geopolitical Risks

June ended with 3 bullish weeks for crude oil since geopolitical tensions grew constantly. Watch crude oil technical analysis: Click for Special Bitumen Offer Brent closed June at $84.86 and WTI closed at $81.44. Price is trying to hit the top blue resistance for the third time on weekly and daily timeframes. Conflicts in the...

Weekly Bitumen Report: Oil Price Stability and its Positive Effect on Bitumen

On June 27, the first presidential debate will be held between Joe Biden and Donald Trump. This debate and their responses can have impact on the global oil prices. Besides, on June 28, the snap presidential election of Iran will be held with 6 candidates. Its results can also significantly affect the trend of energy...

Weekly Oil Report: Crude Prices Increased with Demand Optimism and Rising Tensions

Oil futures stayed the same on Friday, June 21. Signs of rising demand and falling US oil inventories pushed the market for constant growth in the week. After a 0.8 % growth, Brent Futures closed at 85.56$ and WTI closed at 82.12$ for August delivery. Interestingly, prices have increased for the coming month by about 5%...

Weekly Bitumen Report: Positive Oil Trend and Bitumen Support

During the last week, oil price touched its highest level. According to Reuters, the reason of such surge can be attributed to the concerns about intensification of tension and its effects on oil demand due to the unexpected increase of US SPR.According to the authentic sources, after the drone attack of Ukraine to Russia’s energy...

Weekly Oil Report: Economy and Geopolitical Tensions Dominating

Oil markets are under mixed sentiment due to: US Inflation Outlook China’s New Report US Pushing Gaza Truce Mixed sentiment in the market is leading to quick shifts in prices with every piece of news. Therefore, the sharp dip was covered by a sharp rise during this week due to demand outlook reports and US...

Weekly Bitumen Report: US Economic Data Helps Oil Prices

On June 12, Hezbollah of Lebanon launched its largest missile attack on Israel, and at the same time, Israeli fighters responded to this attack. However, with the freedom of 4 Israeli hostages, America attempted more of a ceasefire. All these movements happened after the death of a high-ranking commander of Hezbollah by Israel. In the...