Weekly Reports: Get updated about Bitumen Market

Weekly Lubricant Report: Recycled and Base Oil are Affected by Crude

The Fed is slowing the pace of increasing the interest rates by 0.25 points. This can be a sign that the Fed believes the inflation is a bit tamed. The ECB and UK also increased the interest rates last week causing crude oil to fall on Thursday and Friday. From Monday, December 19 to today,...

Weekly Oil Report: The New Struggle, UP or Down?

Traders have been hesitant to buy crude oil. Meanwhile, the bitumen market was alive in the Middle East. Brent closed at $79.16 and WTI settled at $74.47 on Friday, 16 Dec. https://youtu.be/w4MVwSNNKng As shown in the last week’s chart, the wedge is still valid. The price is near the bottom line and it shows a...

Weekly Bitumen Report: The Attractions of Iran Prime Bitumen Prices with the Current Crude Oil Level

Despite the implementation of price cap on Russia’s oil, crude oil price reached its lowest level in 2022. Some of the market analysts believe that such fall in prices can be attributed to selling Russia’s oil to VIP customers in a range of 40-50 USD. However, the outcomes of Xi Jinping’s travel to Saudi Arabia...

Weekly Lubricant Report: Lubricant Products Demand Reduction

While the 10th month of Russia's war against Ukraine is passing, the new statements of Ukrainian President Zelensky indicate that this war will probably last more than a year and will probably continue in 2023.  What conditions this situation and Russia's actions will determine for the global economy is not yet clear. However, after Russian...

Weekly Oil Report: Sudden Fall of Oil and More Uncertainties

Petrochemicals and fuel fell further along with oil. Crude got to its lowest price in 2022. Brent closed at $76.63 and WTI settled at $71.47 on Friday, 9 Dec. https://youtu.be/yo54XePTpvY The market was determined about the fall despite suitable fundamentals for growth. Price is currently in a delicate region. As you can see in the...

Weekly Bitumen Report: How Did the Market Get Confused?

After 288 days of Russia’s war against Ukraine, G7 Group announced its final decision about Russia’s price cap on 5 December. Based on this decision, the price cap of Russia’s oil was determined USD 60. According to the estimations of some authentic experts and analysts such as Standard Chartered believe that the price cap cannot...

Weekly Lubricant & Chemical Report: New Wave of Uncertainty in the Market

After releasing new data on the US service sector and increasing concerns about the contractionary policies of the US central bank, the price of oil reached its lowest level in the past year. Crude experienced a noticeable decrease on Tuesday and Wednesday and Brent got below 80. On the other hand, the increase in Venezuela's...

Weekly Oil Report: Fear Rising by Tensions in Markets

  A bit of growth in crude oil could not fade the fear in the market. Fuel and bitumen were almost downward. Brent closed at $85.90 and WTI settled at $80.21 on Friday, 2 Dec.   [embed]https://youtu.be/acGbUjdJYL8[/embed] Crude oil, as expected last week, had a slight comeback after a moderately sharp fall. The price movement...

Weekly Bitumen Report: The Market Under the Influence of COVID Outbreak in China

During the last week, the world of economy was following the outbreak of COVID in China worryingly. By the announcement of new cases in China and more new restrictions in the 7 cities of China, there were objections to the zero COVID policy. This wave of objections and the outbreak of the virus led crude...

Weekly Lubricant Report: China's Protests and the Price Reduction of Oil Products

Due to the spread of Corona, the price of crude oil has decreased to 81 dollars and the average for November has been around 86-87, while in October it was around 92-93. Generally, the market has been affected by the fear of Corona. In a situation where most of the countries in the world have...