Weekly Reports: Get updated about Bitumen Market

Weekly Oil Report: Demand Surge Despite Rising Prices

On July 28, Brent oil closed at $84.40 and WTI settled around $80.63. Watch the technical analysis: https://youtu.be/8Snj7PX-uW4 Crude Oil Forecast - 31 July 2023 The bullish sentiment rocketed high due to the tight market and crude surpassed 84 for the first time since April. In fact, oil can leave a strong monthly bullish candle...

Weekly Bitumen Report: A Promising Market in August and September

On July 26, the Federal Reserve of USA increased interest rate to its highest level i.e. 0.25% during the last 22 year to control the inflation and it reached the range of 5.25 - 5.5%.Right now, the inflation of America has decreased for 12 frequent months and now, it is about 3% and its interest...

Weekly Oil Report: Purchase Power Stronger Than Expected

Bullish sentiment is growing stronger despite some economic objections against crude oil. On July 21, Brent oil closed at $80.67 and WTI settled around $76.77. Check out the Technical Analysis: Unlike expectations for a moderate fall from the breakout point, the price grew gradually to 80 after reaching halfway of the anticipated reduction. The purchasing...

Weekly Bitumen Report: Will the Uptrend of Iran Bitumen Price Continue?

While there uncertainties between the supply pressures and concerns for the demands in the oil market, the storage of crude oil and petrol decreased in America in the last week.John Ivans, an analyst of PVM institute, believes that a main reason of the emergence of positive outlook in the oil market is the report of...

Weekly Oil Report: Growing Bullish Sentiments

On July 14, Brent oil closed at $79.63 and WTI settled around $75.22. Watch crude technical analysis: Traders were getting pretty sure about the definite growth of crude oil last week when the price turned down a great portion of the rise on Friday. The US economic reports on Thursday implemented the fears and the...

Weekly Bitumen Report: Opposite Expectations of Importers and Exporters

On July 12, oil price increased in the deals of Wednesday when there were expectations about the fall of demand from the biggest oil exporters in the world as an increasing factor and the worries about global economic weaknesses that lead to the fall in demand.Suvro Sarkar, the energy senior vice president of DBS Bank...

Weekly Oil Report: Sudden Bullishness Took Over

On July 7, Brent oil closed at $78.24 and WTI settled around $73.65. Oil left a bullish candle at the end of the week and it is spreading more positive sentiments. The daily candle shows stronger movement compared to the last several tries but still can’t be sure if the price has broken through the...

Weekly Bitumen Report: The Gradual Uptrend of Iran Bitumen Price

After 15 years, Iran officially became a member of the Shanghai Cooperation Organization in the last week. The overall GDP of its members is 23 trillion and 307 billion dollars, which is 24.2% of the global GDP. Besides, the population of its country members is 3 billion and 330 million people, equal to 42% of...

Weekly Oil Report: June Ends with a Growth After Seven Months of Consecutive Decline

After 7 months of bad luck for oil, June finally closed with 4% of growth. On July 3, Brent oil closed at $75.10 and WTI settled around $70.39. Technically, oil has not recorded any lower low since March 20. The price is making an apex while moving sideways. The purchasing power will probably push the...

Weekly Bitumen Report: Stable Days in the Market Continues

During the last week, the world observed various incidents whose impacts should be investigated in long-term.The first and most important event was the travel of Mr. Narendra Modi, India’s prime minister, to Washington. The developments in the relation between Iran and UAE, and most probably Bahrain, in the region was another significant happening. The last...