Weekly Reports: Get updated about Bitumen Market

Weekly Oil Report: Sudden Changes of Rates Following Less Tensions

Crude oil ended April flat and started May with a loss due to easing Middle East tensions. In the last two weeks, Brent could hold above $ 89, however, it didn’t last long. On Friday, Brent closed the week at $82.78 with a $ 7 decrease and WTI settled around $77.93. Oil prices have touched...

Weekly Bitumen Report: Determination of Interest Rate and Sudden Change of Oil Price Direction

For the sixth consecutive time, the Federal Reserve determined the interest rate without any changes. Its heads stated that as improvement in inflation control has been paused in the United States, so the interest rate will remain unchanged. This is the same level approved in the meeting of the Central Bank in June 2023 which...

Weekly Oil Report: Market Stays in Favour of Bulls

Crude oil slowed down with some reports about an invetory build in the Middle of the month. These possibility is making traders a little hesitant. Click for Special Bitumen Offer However, StanChart has forecast that demand will increase in May and June in favor of bulls. StanChart believes that OPEC will not increase supply either.The...

Weekly Bitumen Report: Various Price Directions in Regional Markets

During the last week and with the reduction of tension between Iran and Israel in the Middle East, it seems that regional issues are facing some kinds of uncertainties. There is still no clear status on the ceasefire between Israel and Hamas after more than 6 months. The Red Sea has not recovered its normal...

Weekly Oil Report: Uncertain Tensions Continue in Middle East

On 19 April 2024, Israel launched a limited strike on Iran. The attack didn’t have much damage; therefore, it didn’t cause more tensions. Watch on YouTube: Click for Special Bitumen Offer Oil prices had a sudden drop before the attack but recovered slightly after it. Staying above $80, Brent closed the week at $87.15 and...

Weekly Bitumen Report: Price Growth & Market Uncertainties

Traditionally, there is a direct relation between oil price and the Middle East geopolitical situation, but this time, oil market is anticipating the rise or reduction of tension between Iran and Israel. Vandana Hari, the financial market analyst, believes that after Iran’s attacks to Israel, there was not any other tension between the 2 countries...

Weekly Oil Report: Iran Retaliatory Attack Intensifies Region Tensions

Late on Saturday, Iran launched hundreds of missiles and drones on Israel in response to Israeli airstrike on Iran Damascus Embassy. Watch on YouTube: Click for Special Bitumen Offer According to reports, attacks only targeted military bases in Israel and didn’t have serious casualties. Israel response will play a huge role in escalation of disputes....

Weekly Bitumen Report: The Middle East Security Concerns and Price Growth

During the last week, most of the global commodity markets experienced rise in the prices and one of its reasons was the expectation on the reduction of interest rate in America within the next weeks. The latest published report about employment rate in America demonstrates an acceptable position of employment in the country. Brent crude...

Weekly Oil Report: Geopolitical Risks Pushed Brent Above $90

Oil continued rocketing higher in the first week of April by about 5% growth. Brent closed at $90.87 and WTI settled around $86.67. Watch crude technical analysis and comment your ideas: Click for Special Bitumen Offer The current candle pattern looks to be imaging previous upward movement so we might expect a correction similar to...

Weekly Bitumen Report: Global Improvement of Oil & Bitumen Price Continues

The strongest earthquake in Taiwan in the past 25 years shook Taiwan. The island supplies 90% of TSMC chip production which is crucial for producing chips for companies. Copper reached 9,094 USD which is its highest level since last year. Each ounce of gold also exceeded the $2300 mark and it is also among the...