Crude Oil Causing More Bullishness
Oil surged above $ 90 in the first week of April. Bitumen and petroleum markets are all looking up to high prices of oil Brent and WTI. Geopolitical tensions in the Middle East are expanding and it is bringing fear and uncertainty to markets. If disputes continue in the region, oil prices will probably stay in the same price channel.
Accordingly, bitumen markets are bullish and traders had growth in most regions. East Asia experienced an increase in prices in Singapore and South Korea. Europe had some rises too. Iran bitumen prices started to increase after a competition on VB.
In the Middle East, the new steel drum bitumen was in the range of $ 360 – $ 365 and the bulk bitumen was in the range of $ 280 – $ 285. The bulk of Singapore is volatile in the range of $ 410 – $ 420 and South Korea is currently $ 400 – $ 410. Bahrain bulk recorded 380 USD at the end of the year. You can contact me for more information or bitumen inquiry, Click here.
This article was prepared by Mahnaz Golmohammadian, the account manager and market analyst of Infinity Galaxy.
