Weekly Reports: Get updated about Bitumen Market

Weekly Bitumen Report: Transportation Issues, the Main Concern of Current Market

Within last week, the rally of competitions continued among the refineries. The minimum and maximum percentages of the competitions were 14.64% in Tabriz and 43.57% in Bandar Abbas. On 16th November, the Indian refineries increased bitumen price by 57 US dollars per ton. Demands also seem to be recovering as many pending projects need to...

Chaos Continues to Confuse Traders

In some parts of Europe, the Middle East, and Africa, demand is strong for base oil, while it is slowing down in some other countries as usual at this time of year. In recent weeks, oil was fluctuating between $80 - $85. This could be due to declining demand and the need to reduce inventories...

Weekly Oil Report: Hesitations Lingering in the Markets

Oil was still under pressure by dollar powering, possible supply increase, and next year demand outlook. Accordingly, Brent finished the week with a loss at $81.14 and WTI at $80.82 on Friday. Although bearish factors have mounted, options traders are still betting on higher prices around $250. It is vividly clear for every market participant...

Weekly Bitumen Report: The Waves of Prices are still Upward

On 7 November 2021, the rate Iran vacuum bottom dropped around 6% considering fall of fuel and the bitumen market experienced a temporary fall of rates up to 25 US dollars but from 8 November 2021 and from the first supply of vacuum bottom by IME, frequent competitions happened during the weeks in different levels...

Failure of Expectations for Lower Recycled Base Oil Rates Despite Fuel Reduction

Fuel prices remained unchanged for the sixth day following the tax cuts in Indian states and the sharp reduction of petrol and diesel prices. Global crude oil prices have once again hit a three-year high and reached more than $ 85. OPEC+ decision to gradually increase production in December might push up crude oil prices...

Weekly Oil Report: Bullish and Bearish Aspects of the Market

After the third week of oil fall, the market began the week with a slight bullish gap. Brent and WTI closed the week at $81.73 and $81.34 on Friday. Technically speaking, the chart is still on an uptrend and there is strong resistance at $79. There are both bullish and bearish factors on the market....

Weekly Bitumen Report: Chaos of Market under the Influence of Oil, Demand, and Competitions

Within the last week, the market was stormy by the beginning of the week and the IME observed 22% competition on VB by Bandar Abbas refineries but after that, a downward trend was observed on VB competition that can be contributed to the start of Diwali in India, rejection of FOB price of 500 US...

Base Oil and Lubricant Markets Affected by Various Changes

Last week, major changes happened in the market of base oil and lubricants, including the following: Oil prices continued to break records of past seven years. OPEC decisions will be decisive at the meeting on November 4. Some sources predict that the decision won't increase supply by OPEC and will keep prices stable in 83-84$...

Weekly Oil Report: Fundamentalists Are still in Fond of Crude

Oil experienced the second week of loss at the end of October. The fall can be considered as a price correction after several consecutive weeks of gains. Therefore, fundamentalists are not much worried about Brent closing at $83.28 and WTI at $83.28 on the last session of the Market. On Monday, prices fell again after...

Weekly Bitumen Report: Record Breaking Bitumen Prices

Within the last week, the market of bitumen was affected by considerable changes. The severe competitions on vacuum bottom, the stability of oil price in the channel of 85 and too much demand to purchase bitumen caused the FOB price of Bandar Abbas to exceed more than 475 US dollar per ton in less than...