Weekly Reports: Get updated about Bitumen Market

Weekly Oil Report: Recession Fears Shortly Suppressed Markets

Commodities experienced a sudden and temporarily plunge during the first week of July. Oil dropped about 9% on Tuesday because of an emotional reaction to fears of a possible recession following the interest rate increase. Brent, finally, grew back to $107.00 and WTI closed at $104.78 on Friday. In the 4h WTI chart, the price...

Weekly Bitumen Report: The Tough Options in front of the Economy

Infinity Galaxy team was planning to release its first videocast in the first week of July, which was prepared on 5 July, but the strong earthquake of oil price changed the whole prepared scenario. The first 7 days of July passed with a drop of more than 10% in oil price. During the last week,...

Weekly Lubricant Report: Unprecedented Fluctuations By Rising Fears

The crude oil price was reported at $116 on the last day of June and respectively it closed with a decrease in the average price compared to the previous months. On the 5th day of July, due to the intensification of the fear of stagnation in the market, the price of crude oil decreased by...

Weekly Oil Report: Supply Disruptions Ignite Bullish Sentiments

Crude oil jumped up on Friday after about an %8 plunge during June. Brent closed at $111.38 and WTI settled at $108.48 after the bullish sentiments built by the disruptions of supply. Technically, the price is currently struggling with the yearly pivot at around $107 (the upper white line in the chart). If it succeeds...

Weekly Bitumen Report: The Opposite Functions of Price Determination in the Market

After more than 127 days of Russia- Ukraine war, it has been reporting that Russia is exporting its oil to the Europe even more than before the war with an amount of 1.84 million barrels per day. The energy crisis is getting more serious in the world and as it was mentioned in the last...

Weekly Lubricant Report: Lubricant Market under the Influence of Political Conditions

More than 125 days have passed since the Russia-Ukraine war, and it seems Russia has won on the eastern front. Russia's heavy attacks on the Ukrainian capital, Kiev, also continue. The average price of crude oil from June to its last week shows a recession compared to the last 6 months. This indicates that the...

Weekly Oil Report: Global Fear of Recession Intensifies

Crude oil fell to $110 under the pressure of weak demand and fears of the global recession. It was the third consecutive week that the oil price dropped. Brent closed at $112.44 and WTI settled down at $107.53 on Friday. As you can see in the WTI chart, it could record 101.55 as the lowest...

Weekly Bitumen Report: The Shadow of Recession is Still Felt Strongly in the Market of Commodities

In the 17th week of the war, various incidents are happening: the west is checking out membership conditions of Ukraine in the European Union, the head authorities of different European countries travel to Ukraine with or without prior notice, the critical city of Donetsk of Ukraine has been almost fallen, and Russia has turned into...

Weekly Lubricant Report: The Aftershocks of Global Energy Crisis made a Turbulent Market of the Commodities

While the crude oil price fell about 7-8% on Friday, its price is still above $110 and at the time of preparing this report is at about $111. The exchange rate of the dollar against major currencies has reached its highest level since May 2020, so in the current situation, importers are not sure that...

Weekly Oil Report: Markets Tremble Upon More Fears of A Recession

After weeks of the quick growth of crude, it drastically sold off during the last week. The oil price fell by around 8% and Brent settled at $113.14 and WTI got to $110.01 on Friday. Tensions existed in almost all the markets besides oil and petrochemical due to the reports on high inflation rates and...