Weekly Reports: Get updated about Bitumen Market

Weekly Oil Report: Sudden Shocks Bring More Complexity

October shocked the market in the 1st week. Crude oil fell by over 8% in the last several days. On Friday, Brent oil closed at $84.37 and WTI settled around $82.74. Watch crude technical analysis and comment your ideas: https://youtu.be/b-mIpyzykPg?si=yIppTHmHM-6yEIb2 Special Bitumen Offer Since March, crude oil didn't have any sharp drop. The selling pressure...

Weekly Bitumen Report: Sudden Direction Change of Oil Price and Shock in the Market

After several weeks of observing an uptrend in Brent crude oil prices, it fell below 90 USD, and even OPEC+ emphasis and its 50th meeting on Wednesday which was about the previous agreements to reduce production level could not lead to the recovery of oil prices to above 90 USD. The main reasons for this...

Weekly Oil Report: Positive Sentiment Still Has the Markets

On Sep 29, Brent oil closed around $92.07 and WTI settled at $90.71. https://youtu.be/p0vGJYS1_hw?si=_UQktWCX8SU4FUSH Technically, the market expected oil prices to slow down after reaching the 96-dollar resistance. The news about the US rising production and the coming OPEC meeting added up to resistance. On the weekly chart, you can see the price supports at...

Weekly Bitumen Report: The Simultaneous Rise of Crude, Fuel, and Bitumen

During last week, Taiwan unveiled its first domestically made submarine to empower its defense milestone against the probable attack of the Chinese army. Most of the supervisors believe that China does not have any plan of immediate attacks on this island and China's government is looking for a peaceful reunion with Taiwan. It is not...

Weekly Oil Report: Rising Trend Continues In Petroleum Products

On Sep 22, Brent oil closed around $92.19 and WTI settled at $90.29. Watch crude technical analysis and comment your ideas: Click for Asphalt Offer When the price touched the 38% fib level, traders started profit-taking. This led to a 2% price correction that can continue to 90. The bullish sentiment has not worn off...

Weekly Bitumen Report: The Continuity of Oil Price and Bitumen Price Increase in the Global Markets

During the last week, the Ukrainian generals claimed that they could break the front line of residence in south of Russia and they could recapture 4 gas platforms in the Black Sea.There were some new tensions between Azerbaijan and Armenia about Nagorno-Karabakh Autonomous Oblast.It is not yet clear what can be the economic outcomes of...

Weekly Oil Report: The Unstoppable Growth Continues

On Sep 15, Brent oil closed at $94.20 and WTI settled around $91.17. Watch crude technical analysis and comment your ideas: Click for Asphalt Offer Crude recorded a 9-month high with a weekly growth of around 5%. These constant gains are making hopes for seeing 100 in 2023. The daily candles are strong and the...

Weekly Bitumen Report: Is the Rally of Bitumen Prices Starting in the World?

During the last week, G20 Summit was held by India in New Delhi. In this forum, a statement was issues in the absence of Presidents Putin and Xi Jinping and without direct blame of Russia in Ukraine war. One of the achievements of this forum was the new project of this group in a competition...

Weekly Oil Report: Supply Restrictions Driving Crude Higher

On Sep 8, Brent oil closed at $90.39 and WTI settled around $87.18. Watch crude technical analysis and comment your ideas: https://youtu.be/fC0EN8WNvBw?si=aFzCnmCvfkhsdCoy Click for Asphalt Offer Crude oil finally broke through the 10-month resistance shown in blue. It has got to 90 and it may get to 92. On the weekly chart, the price closed...

Weekly Bitumen Report: The Increasing Signals Got Stronger in Iran

On 6 September, oil price increased once again in the Asian trades as the markets were worried about shortage in supply by the extension of voluntary production cut of supply by Suadi Arabia and Russia till the end of the year.The price of future crude oil quotes reached 90.18 USD per barrel by an increase...