17 Mar 2021

Rally in Crude continue to support Bitumen prices

  • A rally in Crude prices as a result of OPEC + decision to continue with cuts and news on Vaccine success supported global Bitumen prices.
  • Fuel oil prices which were correcting reversed the trend and moved up.
  • Bitumen prices in Singapore moved up supported by improved demand and limited supplies. China market also saw a rise in prices.
  • Indian prices as expected corrected by around 8$ apart from discounts moving up.
  • Traders expect demand to improve and prices to move up by few dollars.
  • Iran prices started moving up as importers started rushing for products to uplift before the Iranian new year holidays starting from 20th March