New Steel Drum Bitumen Price 2018
Note: Consider all the price figures at an average of ± 5 USD.
A brief analysis of the new steel drum bitumen price 2018
Bitumen price 2018: bitumen new steel drum Singapore on 4th December was 570 USD, which is the highest price in 2018. On the contrary, Singapore FOB new steel drum on 2nd April was 440 USD, which is the lowest price in 2018.
Iran FOB’s lowest price in 2018 was 320 USD on 2nd April, and the highest price was 390 USD on 3rd October. bitumen prices in Iran had lots of changes in 2018 according to the sanctions against Iran’s exports and its international tradings.
Iran and Singapore’s new steel drum bitumen prices in 2018, differed about 100-120 USD. The reason was the sanctions of the United States against Iran.
Bulk Bitumen Price 2018
In the figure below, bulk bitumen prices of Iran, Thailand, Singapore, Bahrain, Japan, Taiwan, and South Korea.
Note: Consider all the price figures at an average of ± 5 USD.
Bitumen price list 2018
Bitumen price 2018:Iran bulk bitumen price 2018 in January and February were somehow stable, but in March they decreased about 20 USD and remained the same for the next two months. As shown above, there isn’t stability in Iran bitumen price list 2018. Iran’s bulk bitumen price list 2018 in the Middle-East was the lowest among the other countries. Unexpected rises and falls in Iran’s bulk bitumen prices are caused by the political crises, sanctions, exchange rates, US current president and his decisions, and some other reasons.
Bulk Bitumen price 2018 for Bahrain in November and October was 410 USD, which was the highest bitumen price. Moreover, the lowest bitumen price of Bahrain in 2018 was 330 USD in the first four months of the year.
10 important factors affecting bitumen price 2018
1) Humanitarian Crises Deepen
Venezuela and Yemen had tragic incidents in 2017. Things only got worse in both countries in 2018. The cause of Venezuela’s collapse has been the mismanagement of the economy. Venezuela’s democratic institutions have been attacked and dismantled.
The Yemeni civil war entered its fourth year in 2018. Yemen now holds the dubious distinction of being the world’s worst humanitarian crisis.
Meanwhile, humanitarian crises in the Central African Republic, Congo, Syria, and South Sudan, among other places, continue to grind on. It seems like ages since world leaders embraced the principle of a responsibility to protect.
2) The Murder of Jamal Khashoggi
On October 2, Saudi dissident and Washington Post columnist Jamal Khashoggi entered the Saudi consulate in Istanbul. What Saudi officials hadn’t counted on was that Turkish intelligence had bugged the consulate and that Turkish President Recep Tayyip Erdogan was willing to release what he knew to embarrass them.
President Trump initially suggested the murder wasn’t America’s concern because “to the best of our knowledge, Khashoggi is not a United States citizen.” Congress took a different view, especially after the CIA concluded that Saudi Crown Prince Mohammed bin Salman (MBS) had ordered Khashoggi’s murder.
The president said Riyadh’s commitment to spend more than $100 billion on U.S. weapons systems and its importance as an ally justified his business-as-usual approach. But Saudi arms purchases are much smaller, and it’s questionable whether relying on MBS serves U.S. interests.
3) The United States Leaves the Iran Nuclear Deal
Donald Trump vowed on the campaign trail to withdraw the United States from the Iran nuclear deal, formally known as the Joint Comprehensive Plan of Action (JCPOA). Trump took steps against the counsel of many of his advisers and America’s closest allies. Secretary of Defense James Mattis was among the cabinet officers who argued that for all deal’s weaknesses it was better to stay in it.
British, French, and German leaders flew to Washington to lobby for the United States to stay in the deal, pledging to act to address the deal’s shortcomings. No other country followed the United States out of the deal, even after the White House announced that it would sanction any firm that does business with Iran. Iran remains in agreement with the deal, and the other signatories are looking for ways to help Tehran ease the pain of U.S. economic stress. Whether they will succeed and whether Iran will leave the deal if they don’t are two open questions.
4) The Weakening of the West Worsens
For experts calling on America’s friends to step up as America steps down in world affairs, 2018 wasn’t a good year. Hopes that the United Kingdom could arrange an orderly divorce from the European Union (EU) faded. While the two sides reached a compromise, British Prime Minister Theresa May couldn’t persuade the House of Commons to endorse it.
5) Trump Triggers a Trade War and More
“I want taxes,” Donald Trump told his advisers in July 2017. In 2018, he got his wish. In January the administration imposed tariffs on imported washing machines and solar panels. A bigger move came in March, though, when tariffs were slapped on imported steel and aluminum from friends and enemies alike because they posed a national security threat. Trump subsequently imposed tariffs on $50 billion worth of Chinese imports, which by July he had raised to $250 billion. Despite tweeting that “Trade wars are good, and easy to win,” Trump’s tariffs had by year’s end hurt Americans more than helped them.
6) Oil price roller coaster
The price of West Texas Intermediate (WTI) opened the year at $60/bbl. Brent crude was just under $67/bbl. By early October, WTI was closing in on $80/bbl and Brent was above $86/bbl. But then prices collapsed in part because the ongoing trade war with China caused them to stop importing U.S. oil, and in part because sanctions on Iranian exports were waived at the last moment — after Saudi Arabia had already increased production to compensate for Iran’s lost exports. The overall impact was a collapse in the price of oil. On the last week of the year, WTI fell to $45/bbl and Brent crude was at $54/bbl.
7) OPEC raises then cuts production
Following OPEC’s 174th (Ordinary) Meeting in June, the cartel announced, in agreement with Russia, that it would increase production for the first time since implementing production cuts in November 2016. This news was a response to oil prices that had recovered back to the $70/bbl range. But a trade war between the U.S. and China began to raise concerns about demand growth. Then in December, following the oil price collapse in the fall, OPEC and its allies agreed to cut oil production by 1.2 BPD.
8) Natural gas prices break out
After spending the past four years almost exclusively below $3 per million British thermal units (MMBtu), it was warned that in August low inventories could cause prices to spike. Indeed, over the next three months, natural gas futures rose by 60% and set a monthly average above $4/MMBtu for the first time since 2014.
9) New carbon dioxide discharges record
When the 2018 BP Statistical Review of World Energy was released in June, it showed a new all-time high for global carbon dioxide radiations in 2017, which were 426 million metric tons higher than in 2016. This was 1.6% higher than the previous year and was higher than the 10-year average growth rate of 1.3%. China was the world’s top carbon dioxide emitter, with Chinese emissions totaling more those of the U.S. and the European Union combined.
10) Venezuela’s oil production collapse extends
As its economy sunk deeper into crisis, Venezuela’s oil production continued to plummet. By November it had fallen to 1.137 million BPD. A decline of nearly 50% since 2016 had happened. This threatened Venezuela’s status as a crude oil exporter, put further pressure on the country’s economy. To make matters worse, ConocoPhillips won a $2 billion arbitration against Venezuela’s state oil company over the 2007 expropriation of two oil projects in Venezuela.
All the mentioned incidents will result in some changes in the bitumen price 2018 . There are also some other global events that affect the bitumen price list 2018, but here we brought the most important ones.