RE:WCS Bahrain's state-owned refiner Bapco will raise its bitumen listed prices by $25/t from 25 January as crude and fuel oil prices continue to rise.
This price hike will see listed prices increase to $425/t fob Sitra. This will be the first increase since prices were adjusted to $400/t last month.
The increase is also in line with the sharp rise in benchmark crude futures, along with a sharp rise in benchmark fob Singapore and Iran prices. Argus assessed the ABX 1 fob Singapore bitumen prices for the week ending 21 January at $435/t fob Singapore, up by $17.50/t from the previous week.