Weekly Reports: Get updated about Bitumen Market

China Mega Storm and General rate increase Changing the Game

In addition to all the unpredictable events that have plagued businesses and traders, natural disasters have also hit the market in recent weeks. Rather than affecting the oil market and prices, these events have turned shipping operational disarray into a disaster. As we mentioned in last week's report, Hurricane Ida made some markets volatile while...

Weekly Oil Report: Hopes Are Still Keeping the Market Bullish

Crude price bounced back during the last three weeks after stronger hopes for a steadier market and demand. Last week, oil fluctuated in the range of $ +2 / -2 as we expected. With a growth of about 2.5%, Brent could close at $73.34 and WTI got to $69.58 on the last seconds of the...

Bitumen Weekly Report: Market Tendency to Increase in Near Future

The market of bitumen in India had a slow flow within the last week due to the factors like devaluation of Indian Rupees against the US Dollar and less demand. Therefore, buyers expect a drop in rates in other countries such as Iran. Here are several facts opposing such expectation: Increase in crude oil rate...

Expectations for Price Reductions Failed

In recent weeks, there have been developments in the oil and lubricant market that did not last long. At the beginning of the week, due to the fall in oil prices, the recycled oil price tended to fall. Even though, the recycled base oil SN 150 FOB price fell to around $680. Since Monday, Pfizer...

Weekly Oil Report: The Vicious Cycle of Covid and Economic Transformations

Crude succeeded to rise a bit higher in the first week of September. However, the rise was not significant due to several incidents, including the oil spill of the Ida hurricane in the Gulf of Mexico and a variant of interest of covid. The crude ended Friday with Brent at $72.05 and WTI at $69.20....

Weekly Bitumen Report: Growing Hopes Tame Covid Fears

As Infinity Galaxy expected last week, Indian refineries decreased the rates on first September 2021. The fall was confirmed to be almost 8 US dollars. We had also mentioned that by the improvement of vaccination and recovery of oil price, this fall will not last long. It seems rates will follow the upward trend. Within...

Weekly Oil Report: Demand Outlook Overcome the Delta Crisis

Crude could recover the former fall at the end of August. The fall that was imposed by the fear of the Delta variant of covid settled down after the approval of Pfizer by the FDA. The vaccinations are giving hope to the markets for once more. Therefore, Brent and WTI reacted to their price resistance...

Weekly Bitumen Report: Pfizer Approval by FDA Survived Crude Oil

 The last week's assumption of Infinity Galaxy about "any sudden increase/decrease of rates is expected, and we still recommend the “Spot Purchase” as the best applicable strategy in the current market" came true during this week. In Iran, vacuum bottom faced a drop of about 4.9% which was almost neutralised by the implementation of GRI....

The Contest of Market New Factors

The Contest of Market New Factors New conditions of the market have changed the fundamentals of the Middle East base oil markets. It seems that new arbitrage opportunities are available in several regions. Supply seems to be growing and demand is weakening during the holiday season. Therefore, product availability has increased in Europe, the Middle...

Weekly Oil Report: Oil Dents As Covid and Demand Outlook Slump

Market participants experienced disappointing days last week. Oil and fuel resumed the descending pattern all along. Negative sentiments empowered the situation for Brent to drop to $64.41 and WTI to get to $61.92 at the end of the market on Friday. The Brent resistance at $64 has been strong enough to hold the price at...