Slower Pace of Growth in Markets

Has the Tension Subsided?
The market saw a decline last week due to uncertainty surrounding Israel’s response. Following several explosions in Iran, Brent crude rebounded above 87. Changes in crude and petroleum products slowed as concerns over Middle East tensions lingered. However, neither country has yet specified plans to continue attacks on their territories.

On Monday, fuel prices experienced a slight decrease alongside crude oil. While oil has shown some recovery, fuel prices remain unreported. The bitumen market has also slowed, though upward pressure persists. In Iran, there’s a high likelihood of bitumen prices increasing gradually.

In the Middle East, new steel drum bitumen ranged from $360 to $365, while bulk bitumen ranged from $280 to $285. Bulk prices in Singapore fluctuated between $400 and $410, and South Korea currently stands at $390 to $400. Bahrain’s bulk price remained at $380. For further information or bitumen inquiries, feel free to contact me.