13 Mar 2025

13:59

  • 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%

A high average possible recession among the world’s leading economies

Shirin Yousefi

Publish Date: 2023/04/23

Share Report
A high average possible recession among the world’s leading economies

Bloomberg predicts possible recession among 20 major economies in 2023, some of which are the United Kingdom at 75%, the United States at 65%, China at 12.5%, and India at almost zero.
The present analysis conducted by Bloomberg provides an estimation of the prospective recession status of 20 of the leading global economies, projected for the year 2023. As per the report, the likelihood of a recession in select countries is outlined as follows: the United Kingdom with a probability of 75%, the United States with a degree of probability at 65%, China with a probability of 12.5%, and India with nearly negligible probability.

According to the findings of this research, it is anticipated that no fewer than ten significant economic powers are likely to encounter a recession exceeding fifty percent by the year 2023. Given the information provided in the aforementioned report, as well as the preceding affirmative reports emanating from China, the prospect of an imminent global economic recession persists. In light of this, the latest Oilprice report posits that the sustained decline in crude oil prices may be ascribed to apprehensions pertaining to the demand for the said commodity.

Within the initial three days of the present week, there was a decrease of approximately 14 USD in Singapore’s HSFO CST180 and a decline of up to 81 USD in Brent crude oil on Thursday.

On the 19th of April, parity was retained for the bulk bitumen exchanges in Singapore and South Korea at values of 470 and 420 USD, correspondingly.

The recorded price of bitumen in Bahrain was 370 USD, further indicating that Europe has a more favorable situation in comparison to that of East Asia.

The Indian bitumen market experienced a surge in the price of 16.5 USD on April 15th. Nonetheless, reports suggest an insufficiency in the Indian bitumen market, prompting a potential adjustment in pricing destined for May 1, 2023.

Iranian oil prices in the final week of Ramadan
During the final week of the Ramadan month, Iranian refineries engaged in a competitive bidding process for vacuum bottom at a level of approximately 88%. Concurrently, the exchange rate exhibited stability, holding within the range of 500,000 Rial. Consequently, the bitumen market in Iran witnessed a prolonged period of competitive pressure and currency fluctuations, lasting for six weeks.

Conversely, it is highly anticipated that there will be an inclining trend in the price of vacuum bottoms in Iran on the 24th of April.

In reference to the upcoming monsoon season in India and other countries, it is crucial to monitor the market trend after the conclusion of the Muslim holiday season. Therefore, it is advisable for market participants to closely track market fluctuations.

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