Weekly Reports: Get updated about Bitumen Market

Weekly Oil Report: Crude Falls Back as War Possibility Recedes

Oil prices declined after 9 weeks of consecutive growth after lower war possibilities and supply expectations. Brent oil closed at $91.66 and WTI fell to $92.00 on Friday trading session. Iran nuclear negotiations had a strong effect on the oil decline. After months of negotiations, Iran seems close to having an agreement with the US....

Weekly Bitumen Report: The Variety of Crises and Growing Trend of Bitumen Price

Different international crises were affecting the bitumen market during the last week. The crisis in Ukraine and the possibility of a military attack by Russia that is still a potential threat let the oil price get stable in the channel of 90 US dollars and even occasionally it touched the level of 95 US dollars...

Production Deficits of Base Oil and Lubricant Exacerbates

Low global inventories and limited surplus production capacity have pushed up crude oil prices in the short term. The world's total crude oil reserves are at a very low level. Forecasts show that oil prices increase to above USD 100 seems inevitable. Activities in Asian countries have intensified and everyone has returned to the market....

Weekly Oil Market: Tight Supply Evoking the Price Again

The 2nd week of February started a little dull for crude because of more possibility of the nuclear agreement of Iran and the US and more supply. But the market sentiment changed due to OPEC underproduction and war possibilities on Friday. Brent closed at $93.57 and WTI surpassed Brent to $93.88 on the last trading...

Weekly Bitumen Report: Will the record-breaking of Bitumen Price Continue?

Within the last one week, crude oil got stable in the range of 90 US dollars. Although some of the clients were expecting a fall in crude prices, some factors like the short 16-minute meeting of OPEC and its unwillingness to increase the production, the crisis of the probable war between Ukraine and Russia as...

Unexpected Demand Growth In Base Oils and Lubricants 

Enduring tensions over Russian military reinforcements along Ukraine's borders have disrupted the supply of products and raw materials. Crude oil prices have also advanced amid concerns about a Russian invasion of Ukraine. Brent and WTI exceeded $90. Meanwhile, the Omicron strain of COVID-19 appears to be recovering despite the availability of vaccines. Different countries are...

Weekly Oil Report: The Shortest OPEC+ Meeting Pushed Prices Above $90

Crude oil rose above $90 during the first week of February. WTI and Brent gap narrowed as the market become tighter. Finally, Brent closed at $91.99 and WTI got to $91.95 on Friday, 4th February. Bullish factors of the market are almost getting stronger than before which is causing more growth. Geopolitical tensions, tight supply...

Weekly Bitumen Report: The Stormy January of the Market and Continuity of its record-breaking in Feb. 2022

The best monthly performance of crude oil with a growth of 17% was observed since February 2021. However, the global index of Brent was closed at higher than 91 US dollars on the last day of January 2022 which can be considered the highest productivity of Brent in the last 30 years. The reason for...

The Wild Beginning of February Along with a Sharp Rise of Rates

February, as predicted in previous reports, started with a sharp rise in oil prices. Markets of base oils and lubricants faced many issues during last week: Supply chain problems with increasing Omicron cases Reduction of labor and raw materials Political tensions in different parts of the world A sharp and unprecedented increase in crude oil...

Weekly Oil Report: Crude Rally Speeds Up

Brent rocketed through $90 in the last week of January, the price that it could not regain since 2014. Although the break was short and unstable, it reinforced the $100 forecast along with supply disruptions. Brent closed at $88.66 and WTI closed at $87.24 on the final trading session of Friday. Geopolitical risks are still...