Weekly Bitumen Outlook
Iran Edges Up as Global Markets Lose Momentum
Global Context: A Week Marked by Unfinished Diplomacy and Economic Hesitation
The international atmosphere this week was filled with movement but no real resolution. High-level political conversations between major powers produced polite statements but no concrete results. Markets reacted cautiously as leaders exchanged messages without altering the broader geopolitical landscape.
In Europe, defense discussions intensified, signaling that tensions remain present even without dramatic developments. Latin American financial markets experienced brief fluctuations after ambiguous political comments stirred speculation among investors.
Across the Middle East, the situation appeared calm, yet analysts continue to describe the region as being in a “quiet but sensitive” phase — where any small change could quickly shift the balance.
This global state of half-stability shaped energy and fuel-related markets worldwide.
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Oil and Fuel Dynamics in Asia
Crude Oil Locked in a Narrow Band, Bitumen Prices Facing Downward Pressure
Brent crude spent the week hovering at the lower end of its usual range, unable to break upward due to three persistent factors:
A steady rise in supply from major producers
Noticeable weakness in Asian industrial demand
Absence of strong political shocks that might lift prices suddenly
Forecasts suggest that the market is still dealing with oversupply concerns for the coming year, keeping price ceilings low.
In East Asia, both fuel oil and bitumen extended their recent declines. Singapore’s 180 CST fuel oil slipped further, and bitumen prices in Singapore and South Korea continued their gradual downward drift. Despite small fluctuations in HSFO, the downward trend remained intact due to lingering stock levels and limited spot buying.
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Bahrain and Europe
European Bitumen Slips Deeper Into Seasonal Weakness
Bahrain maintained stable pricing, even as demand signals were softer than usual.
Europe, however, registered another week of cooling. With temperatures dropping and construction activity slowing, bitumen prices moved downward with little resistance. The sharp fall in HSFO reinforced the trend, placing European bitumen comfortably within its winter low range.
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India’s Market
India Caught Between Supply Surges and Slower Consumption
India’s bitumen market showed barely any movement, but sellers continue to face pressure. Additional materials entering the region from East Asian suppliers — combined with weaker buying from China — pushed imported prices lower.
Seasonal rainfall in several areas also contributed to slower consumption, keeping the market subdued.
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China’s Bitumen Balance
Calm on the Surface, Weakness Underneath
China presented a seemingly stable price range this week. Yet traders describe the stability as “temporary,” pointing to growing inventories and slower procurement from major buyers.
Market participants are preparing for a possible correction if demand does not pick up soon.
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Iran’s Bitumen Market
Iran Moves Against the Global Tide
While Asian and European prices continued to slip, Iran’s bitumen market recorded a modest upward adjustment.
Three main factors contributed:
Administrative complications related to trade documentation
Limited availability from certain suppliers
A stronger pull from buyers in East Africa seeking alternatives to declining Asian prices
The result was a small rise of around $4–$5, at the same time Singapore’s price weakened by nearly $10.
This divergence positions Iran as a more appealing source for African purchasers who seek stable supply and competitive pricing despite global downward pressure.