Commodity Market Report

Global product markets weekly: Further weakness in the Atlantic basin

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07 December 2020

Global product markets weekly: Further weakness in the Atlantic basin

Report summary

The oil market rose further last week, as the start of the Covid-19 vaccination program became imminent and OPEC+ resolved their differences to agree a 500,000 kb/d supply increase in January. The North Sea Dated weekly average rose by US$1.41/bbl to US$47.66/bbl, the highest since the first week of March. However, the short-term outlook for oil demand in the western hemisphere remains at further risk, as lockdown restrictions remained in many countries, and US restrictions are expected to tighten further in the weeks ahead as coronavirus cases continue to rise.

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This report contains:

  • Document

    Weekly Report 2020Dec07

    PDF 1.40 MB

  • Document

    Weekly Historical Margins 2020Dec07

    XLS 330.00 KB