Weekly Reports: Get updated about Bitumen Market

Weekly Bitumen Report: Crude Leading the Market

The 12th international exhibition of Bitumen, Asphalt, Insulations and related Machinery (BAIEX 2021) was held during 27-30 May 2021 following the hygienic protocols in Tehran International Exhibition. More than 70 companies attended this exhibition to explore more developmental opportunities in the field. The political atmosphere of Iran is getting critical by approaching the day of...

India Cyclone and Pandemic Curbed the Base Oil and Lubricant Deals

As Infinity Galaxy mentioned in Monday's article, the decision of the OPEC+ meeting finally changed all variations. Oil prices hit two-year highs up to $70 after OPEC and its associates predicted higher demand and boosted output. In addition to the meeting effects, oil demand showing clear signs of improvement as vaccination plans are accelerated, and the...

Weekly Oil Report: Market Waiting for the OPEC Meeting

[vc_row][vc_column][vc_column_text]In the last week of May, Brent closed at $68.74 and WTI closed at $66.60. The market was green but there was no sign of powerful purchase. Crude did not get to their last high prices and the trend seems to be weak. Technically, the chart is not still determined to move up further. However,...

Weekly Bitumen Report: Market Elements Indicating a State of Uncertainty

[vc_row][vc_column][vc_column_text] The market of bitumen export passed a quiet environment within the last week. Continuity of lockdown in different states, the outbreak of a new disease called “Black Fungus”, and fire at HPCL were among the top news in India. On the other hand, the final candidates of the presidential election in Iran were announced...

Supply Growth and Demand Ambiguity in Base Oils and Lubricants

Considering the progress of the Iran-US negotiations and the expectation of a new wave of oil supply from Iran, it seemed that the prices would remain in a stable range after a 5% decrease mentioned in Monday's oil report. However, oil experienced a 2% increase on Monday. The reason could be the optimism of increasing...

Weekly Oil Report: Iran-US negotiations and weak demand hit sentiments

Brent failed at $70 again and decreased about 5% last week. Brent closed at $66.39 and WTI closed at $63.85 after struggling with the strong resistance. Technically, crude oil price charts do not show enough strength to break through higher prices. It is strongly possible for Brent and WTI to see lower prices and continue...

Weekly Bitumen Report: Quiet Market of Bitumen Anticipating New Changes in Coming Weeks

Unlike 2-3 weeks ago, the bitumen market passed quiet days over this week. The exchange rate of USD was still fluctuating in a range of 22,000 – 23,000 Toman. This fluctuation can continue until there is a conclusion on the negotiations between Iran and the USA, it seems that both parties will reach an ultimate...

Recycled Oil Traders Moving Cautiously

Over the past week, recycled base oil prices have risen as mentioned in the last weekly report of the Infinity Galaxy. Reports indicate that coronavirus restrictions have been lifted in some parts of India. Therefore, demand is rising as expected. Due to concerns about the Covid-19 pandemic and cyclone in India, some importers have offered...

Weekly Oil Report: OPEC Still Expects More Demand

On 11 May, OPEC clearly stated to keep the supply steady as planned. The alliances have decided to increase production by about 2 million barrels per day. The demand from American and European countries rose after speeding the vaccination. Several cities succeeded to restrain the disease and made their cities mask free. Their fuel and...

Bitumen Market Outlook Following the Oil Price

The Middle East was under the influence of several political factors during last week: The serious war between Israel and Palestine Lifting 95% of sanctions that were imposed against Iran by Donald Trump Approaching the presidential election of Iran Negotiations between Iran and Saudi Arabia The exchange market of Iran observed a downfall trend during...