Commodity Market Report
Global product markets weekly: Margin weakened with weaker gasoline cracks
Report summary
The dated Brent price weakened further last week, slumping by $5.02/bbl to bring the weekly average to $68.18/bbl. Global economic growth concerns continued to weigh on the market with escalated US-China trade tensions. However, prices started rallying due to the likelihood of OPEC+ supply cut extension on Thursday. The heavily backwardated market with Druzhba line issue and Statfjord platform maintenance in the North Sea will further support the price.
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