Weekly Reports: Get updated about Bitumen Market

Weekly Bitumen Report: The Hope for a Promising Market after a Long Recession

On the 253rd day of Russia's war against Ukraine, Russia shot more than 50 missiles throughout Ukraine, including Kyiv aimed to destroy its infrastructure. Also, Putin suspended the export of grain from Ukraine. On the other hand, it seems that after the appointment of Xi Jinping as China's president and Rishi Sunak's appointment as the...

Weekly Lubricant Report: The Start of Cold Season and Demand Increase

On October 31, Singapore oil and fuel were traded in the markets with a slight decrease, but oil did not fall below the $90 channel.  On Wednesday, after Yemen's Houthis threatened to attack Saudi Arabia's oil facilities again, the price of oil increased to $95. It seems that the inflammatory conditions in the Middle East...

Weekly Oil Report: Economic Turmoil and Political Tensions Evoke Crude

Crude, stalled in the range of 92 to 94 during the last week of October, shows that the market is still confused. Bitumen and fuel, however, tend to be rising. Brent closed at $94.14 and WTI settled at $88.28 on Friday, 28 October. [embed]https://youtu.be/t5eQ1Ykp1XA[/embed] On the weekly chart, it seems that the lower low in...

Weekly Bitumen Report: The Political Incidents, the Strong Players of the Market

During the last week, two main political incidents were observed whose effects on the world economy should be traced in long-term. In the last meeting of China Communist party, Xi Jinping was appointed as the China’s president for the third time. However, the future economic outlook of China does not seem to be promising in...

Weekly Lubricant Report: A Positive Outlook for the Southeast Asian Base Oil Market

On 25th October, the WTI crude oil closed at 85.05 and the weakening of the U.S. dollar helped oil prices this week to keep WTI front-month prices at $86 per barrel. The American Petroleum Institute (API) reported a build this week for crude oil of 4.520 million barrels. Top officials from U.S. shale companies have questioned...

Weekly Oil Report: Uncertainty by Mixed Signals Hit Traders Again

The crude oil market acted uncertainly toward all the bearish and bullish factors in the market. But the uncertainty is not only for oil. Brent closed at $93.46 and WTI settled at $85.13 on Friday, 21 October. [embed]https://youtu.be/SWKLCt4tL1k[/embed] On the weekly chart of WTI, uncertainty is clear in the last candle. Buyers and sellers were...

Weekly Bitumen Report: The Smooth Days of Market after the Stormy Decision of OPEC

The market passed quiet days during the last week and the difference between the lowest and highest rate of crude oil was around 2 US dollars and it was fluctuating in the range of 91-93 US dollars. Also, the average of HSFO CST180 FOB Singapore was almost unchanged in the level of 383 US dollars....

Weekly Lubricant Report: Another Hit of Recession Fear

Over the past week, after OPEC's decision to cut 2 million barrels of crude oil from the beginning of November, the price of oil rose to $97, but then the price slowly decreased and reached $91 by October 19.   Some experts believe that this drop in crude oil prices is caused by America's decisions...

Weekly Oil Report: Quick Drop of Commodities

Crude oil fell by over 6% during the week. But Bitumen surprisingly increased or stayed steady. Brent closed at $91.62 and WTI settled at $85.60 on Friday, 14 October. https://youtu.be/WNK1gfOG2qU As you can see in the weekly chart of WTI, the fall was nearly half the former growth. It seems that the price is retreating...

Weekly Bitumen Report: The Renewed Growth of the Market after the Recent Shocks

After 232 days of the war in Ukraine, it seems that the atomic threats of Russia have found a new shape and now the analysts of the main organizations and even the White House are worried about these threats. On the other hand, after the 2-million cut of OPEC, the oil price increased by 98...