Weekly Reports: Get updated about Bitumen Market

Weekly Oil Report: Persistent Growth of Commodities

Crude oil recorded over 2% growth for the fifth consecutive month. Brent closed at $105.85 and WTI closed at $104.13 on the Last week of April. The situation with fundamental concerns stays similar to former weeks. Technically, the momentum of the price growth has slowed down and we might have a price correction in May...

Weekly Bitumen Report: The Potential Factors Running Market Ambiguously

Considering the extent of the last week’s events, we will discuss each one separately. Russia- Ukraine War In the 64th day of Russia- Ukraine war, its consequences are affecting on the complexity of the market variables. Guterres, the secretary general of the United Nations, travelled to Moscow three days ago and visited Putin, the president...

Temporary Fluctuations Disrupting the Market

As Russia's war with Ukraine continues, hopes for a better crude oil market waned. In recent weeks, Russian oil exports have declined and cross-sectional fluctuations have continued to disrupt the market. This has caused energy and fuel prices to rise around the world. Disorders in the supply chain and price pressure are still continuing due...

Weekly Oil Report: Mixed Signals of the Market

Oil markets were still under the pressure of volatility during the last week. There are both bullish and bearish sentiments running through the market and it has confused many petrochemical traders. New attacks on Ukraine, untamed inflation, embargoes, and supply/demand problems set the stage for another falling week of oil. Following the one-month bearish trend...

Weekly Bitumen Report: A Weak Growth of the Market after Several Weeks

Fifty eight days passed from the war between Russia and Ukraine, while Russia believed that it would finish within only 3 days and Kyiv would fall. During this time, the market experienced severe fluctuations like increase of crude oil prices up to 135 US dollars and its fall up to 97 US dollars, that means...

Market Confusion and Upward Slope of Prices

The war in Ukraine continues to dominate the news around the world. International sanctions and a ban on Russian exports have pushed up energy prices which had a major impact on a wide range of industries, including the base oil and lubricant markets. It is very difficult to predict the crude oil prices in the...

Weekly Oil Report: A Crack of Hope for Demand

Reports on Covid cases and deaths in China show a moderately better situation. The crude prices, affected by the reports, rose higher during the last week in hopes of a better demand on China’s side. The Brent closed at $110.63 and WTI closed at $103.72 on Friday. Market fluctuations have increased. Effective factors on the...

Weekly Bitumen Report: The Continued Instabilities in the Market of Bitumen and Oil Products

Same as the last 4 weeks, the market was struggling with various instabilities. At the beginning of the week, oil price dropped to 97 US dollars and by the time of preparing this report, it reached around 107 US dollars which can be attributed to the geopolitical tensions and Russia- Ukraine war, outbreak of Corona...

The Tangle of the Political and Economic Crisis in the world’s Market

Sharp crude oil prices and sloping supply persist to put pressure on base oils and lubricants. After the OPEC+ agreement to release 120 million barrels of crude oil, oil prices fell about 5.7% at the end of last week. Russia's ongoing war against Ukraine, along with Russian sanctions, is expected to affect energy prices in...

Weekly Oil Report: Bearish Sentiments Pile Up

Oil prices slowed down during the last week and WTI dived down below $100. After turning sentiments on demand and supply, Brent closed at $101.91 and WTI got to $97.76 on Friday's last session. The spread of covid in China and eased fears of Russia's supply helped the bearish sentiment. It seems that the market...