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Do you know why understanding the history of bitumen price is a must? And how you can find the bitumen price Now? Knowing a little history on the bitumen market and price trends in last years is all you need to give you a broad idea of what will happen in the future.
The more bitumen traders and buyers have data about price trends in the past, the better they become at timing their future purchase.
Bitumen price is currently affected by what has happened in 2018 and 2019. That is why we created a video to review the political incidents that affected bitumen price list 2018 and bitumen price list 2019. In this video, you not only understand the ways bitumen price reacted to political issues, you will also find solutions for purchasing bitumen at the right time.
As you can see in the video, trading activities in the field of bitumen were highly affected in 2018 by major incidents including Venezuela’s oil production falling into its lowest level, the United States leaving Iran nuclear deal, and OPEC deciding to cut the production of crude oil.
The most important change in 2018 was an increasing gap between price trends in two major Asian suppliers, Iran, and Singapore. According to Argus media, this was caused by President Trump’s decision to leave the Iran Nuclear Deal, forcing a dramatic drop to bitumen price trends in Iran’s ports.
In 2019, the world’s political turmoil imposed more ups and downs to bitumen price trends in comparison to 2018.
Key incidents that significantly hit the bitumen market were Persian Gulf ship attacks, Iranian shoot-down of U.S. drone, and British and Iranian tanker seizures.
In this video, we also present three main tips for avoiding troubles in trading bitumen in 2020.
In brief, Infinity Galaxy recommend you to:
- keep track of geopolitical tensions in the world,
- be aware of the national currencies’ values against USD in the countries where bitumen is produced,
- And stay in tune with changes in export regulations, required export documents, and shipping costs in the countries where bitumen is produced.
You can also consult our bitumen experts at Infinity Galaxy. We have an exclusive access to the world’s most reliable benchmarks in the field of bitumen price, including Argus Media, S&P Global Platts, Bitumart, and local market analysts as well.
Visit our website for more information: www.infinitygalaxy.org
