Weekly Reports: Get updated about Bitumen Market

Weekly Lubricant & Chemical Report: The Heavy Shadow of OPEC Production Cut on the Commodity Markets

During the last week, with the reduction of 2 million barrels of OPEC, the price of crude oil increased from around $86 to $97. This increase of $11 caused the price of fuel in Singapore to increase by $37 within the last 5 days when the oil and energy markets of the world were open....

Weekly Oil Report: Is the Price Really on a Hike?

Crude oil had the biggest weekly growth since March 2022 and it shocked the market. Bitumen also got hot last week. Is this really a change of trend? Brent closed at $98.33 and WTI settled at $93.13 on Friday, 7 October. [embed]https://youtu.be/GrfSUyPqSQQ[/embed] In the daily chart of WTI, we can detect a hidden divergence in...

Weekly Bitumen Report: The 2-million Cut of OPEC and its Serious Effects on the Market and the 8th Nov. Election of USA

On Wednesday, 5 Oct. 2022, the 33rd meeting of OPEC+ was held which was the first in-person meeting after the emergence of Corona in the world. The members of this union decided to decrease oil production up to 2 million barrels per day from 1st November 2022. This is the biggest reduction after the reduction...

Weekly Lubricant & Chemical Report: Official Completion of Monsoon and Hope for More Exports

On Monday, October 3, the oil and energy markets in the world started to grow, so that only on the same Monday the prices grew by about 5%. Meanwhile, fuel price conditions in the Persian Gulf and Singapore continued to be almost stable and slightly reduced, adding to the confusion of the market.  Today, October...

Weekly Oil Report: Geopolitical Risks adds Up to Energy Crisis

The oil market was confused deciding on the trend. The price moderately grew during the week but September closed with over a 10% plunge in the price. Brent closed at $85.29 and WTI settled at $79.67 on Friday, 2 October. [embed]https://youtu.be/9idRAdfL904[/embed] The price is still loyal to the former wedge. But it is showing the...

Weekly Bitumen Report: The War between High Demand, Increase of Bitumen Price, and the Pressure on Crude Oil Price

on the 218th day of Russia- Ukraine war, Moscow declared that more than 99% inhabitants of 4 Eastern regions of Ukraine including Donetsk, Kherson, Zaporizhzhia, and Luhansk voted to join Russia. However, Ukraine and some of the Western countries refused the nature of this voting. The effects of this voting on the economic crises are...

Weekly Lubricant & Chemical Report: Uncertain Market Trend

Over the past week, the price of oil went downhill so that on Monday, September 26, the market started with a negative rate, and it seems that the oil price trend will continue. During the two days of Monday and Tuesday, the price of fuel in the Persian Gulf and Singapore also showed a negative...

Weekly Oil Report: Dark Shadow Stays Despite Possibilities of Growth

The week was full of surprises and oil continued to come lower. Bitumen traders had orders coming despite the moderate fall. Brent closed at $86.71 and WTI settled at 79.30 on Friday. [embed]https://youtu.be/hI4d-XqZ0JI[/embed] You can see how the price is still trapped in the marked area. In the daily chart, there is a slight weakness,...

Weekly Bitumen Report: The Anticipation for Market Movements

On the 211th day of Russia- Ukraine war, it seems that Russia is planning to call its reserve forces with the purpose of intensifying the military operations. This action might lead to a more complicated war situation and even increase the international economic crises. In the meantime, based on the recent reports of Platts, the...

Weekly Lubricant & Chemical Report: Market Recovery with the Beginning of Fall

The price of crude oil opened negative on Monday then it grew slightly and finally decreased on Monday and Tuesday. It seems that the trend of oil price reduction will continue and considering that the central banks of 5 countries have decided to hold a meeting to stand against the inflation in their countries and...