Commodity Market Report

Global product markets weekly: Global refining margins improved on higher fuel oil cracks

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02 September 2019

Global product markets weekly: Global refining margins improved on higher fuel oil cracks

Report summary

The oil market corrected slightly up last week as bearish news was muted. The North Sea Dated weekly average increased by US$0.15/bbl to US$59.57/bbl. The overall compliance rate of OPEC and non-OPEC producers rose by 22% month-on-month to 159% in July, providing support to the oil market. Oil prices jumped on Wednesday after the EIA reported a 10-million-barrel decline in US crude inventories for the week ending 23 August. However, oil prices were capped by weakening sentiment around economic growth as new tariffs between China and the US kicked in over the weekend.

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  • Document

    Weekly historical margins 2019Sep02.xls

    XLS 285.00 KB

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    Weekly report 2019Sep02.pdf

    PDF 1.35 MB

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    Global product markets weekly: Global refining margins improved on higher fuel oil cracks

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