Weekly Reports: Get updated about Bitumen Market

Weekly Oil Report: Crude and Petrochemicals Amused Traders

[vc_row][vc_column][vc_column_text] The crude oil market amused traders in the last week of June by reaching pre-pandemic levels. Brent closed the week at $75.11 and WTI soared to $73.97. We did not have any market mover news during the week; therefore, the oil kept moving on. The purchasing power is nearly weak at the moment. Accordingly,...

Weekly Bitumen Report: Iran Election and Crude Oil Making an Upward Trend

[vc_row][vc_column][vc_column_text] The rally of Iran’s presidential election is over and as it was predicted, Ebrahim Raisi became the eighth president of Iran. The capital markets, such as the stock exchange and currency, reacted positively to this election. In long term, the national currency will most probably get stronger against the dollar. As Infinity Galaxy reported on...

Prior Unsolved Issues Still Affecting the Recycled Oil and Paraffin

Iran's presidential election was held on June 18. Considering the Iranian President-elect perspectives, the Iran-US agreement can confront some new problems. Iran's overall oil, gas and energy policies may change from September. The transform will affect the shape of the market. During the week, oil reached $75 as was mentioned in Infinity Galaxy Monday's report....

Weekly Oil Report: Crude Rising in the Unsettled Market

In the third week of June, Brent closed at $72.43 and WTI hit $71.41 on Friday. During the week, crude faced two red days in a row but OPEC could turn the page on the next day after emphasizing the future demand as before. However, technically, the chart of crude is not promising for the...

Weekly Bitumen Report: Election Shadow on the Bitumen Market

As reported in last week's report of Infinity Galaxy, the upward trend of oil and fuel price was the main player of the market since the rise of demand and fall of oil storages encouraged the investors to enter this market. Iraq, as OPEC’s second-biggest oil producer, said crude will be traded between $68 to $75...

Warnings on Trading Substandard Oil Instead of Recycled Base Oil

In recent weeks, supply constraints have been a concern for the recycled base oil market. As mentioned in Infinity Galaxy last week's recycled article, legal barriers for the production of this product and the ongoing shortage of raw materials are among the main reasons for this issue. Oil prices are fluctuating on a scale above...

Weekly Oil Report: Blessed with Crude’s Market Powers

Last week, OPEC and IEA (International Energy Agency) brought more optimism to the market. The boost was expected as we were getting more successful vaccination programs. As the vaccination is getting faster, mobility rises in countries. Therefore, the demand for crude oil will be expanding. The chart of Brent oil and WTI is still not...

Weekly Bitumen Report: Unprecedented Gap in Rates Has not Stopped Market 

The market experienced a very surprising week. Within the last weeks, there was a big gap of about 45 US Dollars per metric ton between low-quality bitumen and Iranian embossed bitumen. The interesting point was the demand of buyers on all these offers. Any type of bitumen, at any rate, was purchased by Indians and...

New Export Rules and Production Restrictions Limiting Recycled Oil Trades

With the start of monsoon in Southeast Asia and India, contrary to expectations, the demand for recycled oil and base oil has continued to increase. The price of this product crossed $700 again. Considering the onset of summer and the development of vaccination, global demand for these products has surged as transportation and fuel consumption...

Weekly Oil Report: Demand Projections Boosted Price Growth

Crude finally succeeded to reach above 70 during the first week of June. On Friday, Brent closed at $71.27 and WTI closed at $69.38. Several stimulations helped the oil, including the OPEC meeting and dollar devaluation. Currently, Brent and WTI are at the strong statistic zone of $70 which they could not pass about 3...