Commodity market report

Global product markets weekly: Keystone pipeline outage supports crude prices

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Report summary

For the week commencing 20th November, refinery margins weakened in all the key refining centres, with the exception of the Middle East Gulf and Singapore. The Brent crude market strengthened last week with the continued closure of the Keystone pipeline in the US. This has helped to reduce US crude stock levels to 2015 seasonal levels. Moreover, OPEC will meet this week in Vienna and announce what we believe will be an extension of the current production cuts. Brent Prices continue to trade above US$60/bbl and the Brent-WTI differential remains wide, averaging over US$5.50/bbl last week. In the slide pack, available in the Downloads section, weekly changes in prices and refinery margins are presented for six key pricing points around the globe: Northwest Europe Mediterranean US Gulf Coast New York Harbour Middle East Gulf Singapore

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  • Document

    Weekly Report 27NOV17.pdf

    PDF 1.35 MB

  • Document

    Weekly historical margins 27NOV17.xls

    XLS 288.00 KB

  • Document

    Global product markets weekly: Keystone pipeline outage supports crude prices

    ZIP 1.44 MB

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