13 Mar 2025

13:32

  • Bitumen 60/70

    333$

    +

    -

    3$

    Iran - Bulk

    3.3%

  • Bitumen 60/70

    405$

    +

    -

    3$

    Iran - New Steel Drum

    2.7%

  • Bitumen 60/70

    405$

    +

    -

    3$

    Iran - New Steel Drum

    2.7%

  • Bitumen 60/70

    380$

    +

    -

    3$

    Iran - Jumbo Bag

    2.9%

  • Bitumen 60/70

    371$

    +

    -

    3$

    Iran - Flexitank

    3.0%

  • Bitumen VG10

    397$

    +

    -

    3$

    Iran - New Steel Drum

    2.8%

  • Bitumen VG30

    397$

    +

    -

    3$

    Iran - New Steel Drum

    2.8%

  • Bitumen VG40

    400$

    +

    -

    3$

    Iran - New Steel Drum

    2.8%

  • Bitumen C170

    401$

    +

    -

    3$

    Iran - New Steel Drum

    2.7%

  • Bitumen C320

    400$

    +

    -

    3$

    Iran - New Steel Drum

    2.8%

  • Bitumen AH70

    396$

    +

    -

    3$

    Iran - Jumbo Bag

    2.8%

  • Bitumen PG 76-10

    411$

    +

    -

    3$

    Iran - New Steel Drum

    2.7%

  • Bitumen 200/300

    400$

    +

    -

    3$

    Iran - New Steel Drum

    2.8%

  • Bitumen Oxidized 115/15

    363$

    +

    -

    2$

    Iran - Carton 25KG

    3.0%

  • Bitumen Oxidized 105/15

    363$

    +

    -

    3$

    Iran - Carton 25KG

    3.0%

  • Bitumen Oxidized 85/25

    363$

    +

    -

    3$

    Iran - Carton 25KG

    3.0%

  • Bitumen Oxidized 95/25

    366$

    +

    -

    3$

    Iran - Carton 25KG

    3.0%

  • Bitumen Emulsion CRS-1

    505$

    +

    -

    5$

    Iran - Reconditioned Drum

    2.2%

  • Bitumen Emulsion K1-60

    539$

    +

    -

    5$

    Iran - Reconditioned Drum

    2.0%

  • Bitumen Emulsion CRS-2

    552$

    +

    -

    5$

    Iran - Reconditioned Drum

    2.0%

  • Bitumen Cutback MC70

    626$

    +

    -

    5$

    Iran - Reconditioned Drum

    1.8%

  • Bitumen Cutback MC30

    636$

    +

    -

    5$

    Iran - Reconditioned Drum

    1.7%

  • Bitumen Cutback MC250

    606$

    +

    -

    5$

    Iran - Reconditioned Drum

    1.8%

  • HSFO CST 180

    439$

    +

    -

    5$

    Iran - Bulk

    -0.5%

  • HSFO CST 380

    436$

    +

    -

    5$

    Iran - Bulk

    0%

  • HSFO CST 180

    460$

    +

    -

    5$

    Singapore - Bulk

    -0.2%

  • HSFO CST 380

    457$

    +

    -

    5$

    Singapore - Bulk

    0%

  • Crude Oil Dubai

    69$

    +

    -

    5$

    United Arab Emirates - Bulk

    1.4%

  • Crude oil WTI

    67$

    +

    -

    5$

    United States - Bulk

    1.5%

  • Crude Oil brent

    72$

    +

    -

    5$

    United Kingdom - Bulk

    0%

Fluctuations Occur with Fears and Insecurities

Shirin Yousefi

Publish Date: 2022/09/25

Share Report
Fluctuations Occur with Fears and Insecurities

Oil Charts

The oil price balance in the second week of September fell and then rose again. Bitumen has also seen fluctuations, but demand has not stopped.

According to the statistics, Brent eventually closed at $91.53 and WTI was trading at $85.28 on Friday.

WTI pauses in the 90-81 range. In the Brent and WTI daily chart, we can see the movement is the same and the market is a bit weak. The weakness is due to market uncertainties. Therefore, economic conditions, supply, and demand are vague for market participants.

The week ahead could also be the same as last week with multiple declines and rises.

The US Energy Sector Is at Risk

One of WTI’s weakening factors was the possibility of a nationwide US railroad strike. Although the government was able to avert the strike by improving working conditions and wages for workers, it showed the fragility of the US energy sector. Gas futures rose 10% in a single day on fears of rail supply disruptions.

The Chinese and Russian presidents met in Uzbekistan on September 15 for the first time since the war in Ukraine. Putin and Xi Jinping have agreed to replace rubles in their oil deals to reduce the hegemony of the US dollar in national trade. Two countries are eager to create a new world together.

As a matter of fact, the offer is at risk in Kazakhstan and Venezuela. The United States has threatened Venezuela with further sanctions if the negotiations fail. Kazakhstan is also unlikely to be able to increase its production anytime soon.

Oil Fluctuations in the Bitumen Market

The US has also suggested that the country can only reload SPR if oil drops below 80. Oil fluctuations have also brought mixed signals to the bitumen market. Bahrain’s bitumen fell by around $ 20, dropping to $ 440, while Singapore’s price remained nearly stable.

On the other hand, India raised the price of bitumen by $ 9 on September 15th.

Iran is likely to cut the price of bitumen by more than 10% during the week. Fluctuations in HSFO also followed crude oil, rising earlier in the week and then falling.

These ups and downs are a result of the uncertainties about crude oil. Consequently, shipping has decreased due to lower export volumes. However, it is the end of the season and new moves and orders may be arriving.

As the ultimate point, the consequences of the ongoing JCPOA and the death of Queen Elizabeth II are still unknown to the market.

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