Crude Oil Changes
Uncertainties didn’t get out of the markets last week. The situation in crude oil and the economy even added up to the unclear settings. Bitumen markets and fuel dropped along with oil and it confused traders more than before. The geopolitical tensions in the Middle East haven’t flared up but they aren’t settled either. The war parties are continuing their attacks and market participants know that it can affect the market at any time. Bitumen prices are also confused but traders are still making their purchases with caution.
Oil forecasters also can’t illustrate a certain situation for this commodity. They refuse to state a specific trend because they know many factors are now affecting the market and they can’t measure them together.
In the Middle East, the new steel drum bitumen was in the range of $ 395 – $ 400 and the bulk bitumen was in the range of $ 310 – $ 315. The bulk of Singapore is volatile in the range of $ 505 – $ 510 and South Korea is currently $ 405 – $ 410.
