A Slight Growth
All petroleum products are hesitant due to crude oil fluctuations and the inconsistency between demand and supply. Brent crude oil is currently fluctuating in the range of 71 to 79. We are entering the Christmas Holidays and markets will be off for about 1 week. It is possible to see sideways and a temporary stable market but it is not for sure since the economic situation and supply is hectic.
Bitumen had the same influence as oil last week and encountered a slight drop in several regions. In East Asia and Europe, prices fell along with India deciding to decrease the price by another 16 USD for the fourth consecutive time. Although, there is uncertainty, traders have not shut their purchases since they believe the rates are still worth it.
In the Middle East, the new steel drum bitumen was in the range of $ 366 – $ 371 and the bulk bitumen was in the range of $ 278 – $ 284. The bulk of Singapore is volatile in the range of $ 460 – $ 470 and South Korea is currently $ 380 – $ 490.
