Commodity Market Report
Global product markets weekly: Gasoline crack strengthened with peak turnarounds in Asia
Report summary
Volatility is now the main theme in the market. The weekly average of dated North Sea did not change much week on week, declined slightly by $0.06/bbl. On a daily basis though, the dated North Sea dipped on 12th June when EIA reported a continuing stockpile buildup. The price rebounded the next day as increasing geopolitical tension in the Gulf of Oman raising more concerns over the crude supplies in the region. The expected resumption of Druzhba northern leg full operation on 1st July will set a ceiling on the crude prices in the region for the coming weeks.
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