Commodity Market Report
Global product markets weekly: Easing tensions on energy prices moderates margins
Report summary
The oil market rose with tight US crude inventory and strong demand for products, while there were underlying concerns of a sustained demand recovery to pre-pandemic levels as Covid cases start to rise. Prices eased slightly as China orders for more coal production to curb spike in energy prices. North Sea Dated crude’s weekly average rose by US$0.77/bbl in the week ended 18 October, with OPEC+ keeping a firm stance despite further calls to raise crude output. Our ex-RVO global composite refining margin fell by US$0.81/bbl to US$6.68/bbl, ending three consecutive weeks of increases. Margins edged lower as easing tensions on the broader energy market capped further hikes in middle distillate cracks. Weekly margins were at US$3.11/bbl above the five-year historical average for the same week.
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: Distillate markets ease despite ongoing global maintenance
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: Distillates remain weak as fuel oil supports margins
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
Europe product markets short-term outlook May 2024
Monthly update of prices and margins, crude runs and product-by-product supply-demand balances through to end-2025.
$1,900
