Commodity Market Report
Global product markets weekly: composite refining margin drops on weaker transport fuel cracks
Report summary
The North Sea Dated weekly average fell by US$0.76/bbl to US42.83/bbl given concerns about a weaker oil demand outlook and the return of crude production from OPEC+. Disappointing US economic data for Q2 and a sharp rise in global coronavirus cases weighed on oil prices. Angolan crude exports for September loadings were scheduled to increase, further adding pressure to the prices in the week. The contango of the M3-M1 spread for North Sea Dated widened amid weak buying interest from Europe and Asia Pacific with ample supply in the prompt crude market. However, the UAE extended crude nomination cuts for September loadings, adding some support to oil prices.
Table of contents
- No table of contents specified
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Commodity Market Report
Global products market weekly: Margins firm as gasoline cracks price above distillates
Weekly review of global refining margins across NW Europe, the Med, US Gulf Coast, New York Harbour, Singapore and the Middle East Gulf.
$1,050
Commodity Market Report
Global products market weekly: Refining margins ease as crude continues to climb on geopolitical tensions
Weekly review of global refining margins across NW Europe, the Med, US Gulf Coast, New York Harbour, Singapore and the Middle East Gulf.
$1,050
Commodity Market Report
Global products market weekly: Refining margins ease as distillate cracks hit two-month lows
Weekly review of global refining margins across NW Europe, the Med, US Gulf Coast, New York Harbour, Singapore and the Middle East Gulf.
$1,050
