The presidential election in Iran and the effects on the oil market
General analysis of the oil market:
As reported in Infinity Galaxy’s report last week, rising oil and fuel prices
are major players in the market, as rising demand and falling oil
reserves encourage investors to enter the market. As OPEC’s second-largest
oil producer, Iraq said that the price of crude oil in the second half of this
year would be between 68-75 US dollars per barrel. According to the beginning
of the Indian monsoon when it became heavy that the previous year
Also , the demand of India reduced the demand by up to 38 USD per ton.
In Iran, the political environment of the presidential elections on June 18,
2021, became more cautious about its transactions to producers and exporters. There was not great competition in the lower part of the vacuum,
and it was marketed mainly at basic prices. In fact, it was one of the more
than about 4.4% competition on the Bandar Abbas. At the beginning of
the month, it is also expected that an increase in the price of VB is
advertised by IME up to 10 US dollars per ton.
Warning to swap second-rate oil for recycled base oil
It’s important to know that supply restrictions have been a concern in
the recycled base oil market in recent weeks. As mentioned in the Infinity
Galaxy recycling article last week, legal obstacles to the production of this
product and the continuing shortage of raw materials are one of the
main reasons for this problem.
As mentioned above, oil prices fluctuate over 70 US dollars. As
Infinity Galaxy mentioned in its weekly Bitumen report on Friday, in the
general case, the possibility of a 65% increase in interest rates is more likely
to show an uptrend. Although the equator has entered the seasons of
monsoons and heavy rains, rising oil prices have driven demand for
recycled oil and base oil.
To sum up, the market is facing production constraints, rising prices,
and high demand. In addition, you can find all quality products on the
market at different prices. To be more specific, under the current circumstances, Infinity Galaxy recommends that merchants be more cautious about
the authenticity of suppliers and products before completing any transactions. Faced with insufficient supply in the market, traders need higher
accuracy and sensitivity in
trading.
