Commodity Market Report

Global product markets weekly: European refiners staging a late summer margin recovery

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06 August 2018

Global product markets weekly: European refiners staging a late summer margin recovery

Report summary

Global crude prices generally decreased in the week commencing 30th July. The weekly average Dated Brent price fell by US$0.50/bbl on expectations of stronger production by Russia and Saudi Arabia, coupled with a crude stock build in the US. This comes as Saudi production levels were lower than expected in the aftermath of the OPEC and non-OPEC production agreement. However, Saudi Aramco resumed their shipments on the Bab al-Mandeb strait (between Yemen and Djibouti), which ought to reduce some market tension. Another crude stock build was seen in the US, possibly due to reduced international demand for US crudes amid the US-China trade war, which resulted in another widening of the Brent-WTI differential.

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  • Document

    Weekly Report 06AUG18.pdf

    PDF 1.34 MB

  • Document

    Weekly historical margins_06AUG18.xls

    XLS 249.00 KB

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    Global product markets weekly: European refiners staging a late summer margin recovery

    ZIP 1.42 MB

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