Commodity Market Report

Global product markets weekly: Global composite refining margin retreated further amid stronger Dubai and Urals

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04 November 2019

Global product markets weekly: Global composite refining margin retreated further amid stronger Dubai and Urals

Report summary

The North Sea Dated weekly average declined by US$0.58/bbl to US$60.14/bbl, erasing half of the previous week’s gains. Concerns over demand growth dragged down oil prices following disappointing China industrial data. Signals of no further Fed rate cuts and China officials’ negative comments over the potential trade deal dampened markets’ sentiments. Oil prices dented further amid the surprising 5.7-million-barrel increase in US commercial crude inventories for the week ending 25 October.

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    Weekly historical margins 2019Nov04.xls

    XLS 291.00 KB

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    Weekly report 2019Nov04.pdf

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    Global product markets weekly: Global composite refining margin retreated further amid stronger Dubai and Urals

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