Commodity Market Report

Global product markets weekly: Global refining margin improves as gasoline cracks strengthen in Singapore and the US

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17 February 2020

Global product markets weekly: Global refining margin improves as gasoline cracks strengthen in Singapore and the US

Report summary

The weekly average of North Sea Dated recovered by US$1.06/bbl to US$55.11/bbl. Markets sought for cues on the potential peak of China COVID-19 outbreak. Oil prices rebounded following consecutive days of declining new infection cases in China. After OPEC cut its 2020 oil demand growth forecast by 230kb/d due to the coronavirus outbreak, markets’ hopes of further OPEC production cuts emerged, lending support to the price recovery. However, the cautious optimism on oil prices was partially offset by the 7.5 million-barrel jump in the US commercial crude inventories.

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  • Document

    Weekly historical margins 2020Feb17.xls

    XLS 306.00 KB

  • Document

    Weekly report 2020Feb17.pdf

    PDF 1.39 MB

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    Global product markets weekly: Global refining margin improves as gasoline cracks strengthen in Singapore and the US

    ZIP 1.47 MB

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