Commodity Market Report

Global product markets weekly: Margins eased as light products lost steam

Get this report


You can pay by card or invoice

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders
- Find out more about subscriptions

19 April 2021

Global product markets weekly: Margins eased as light products lost steam

Report summary

The oil market moved higher last week as the strong mid-week gains were maintained. North Sea Dated crude’s weekly average rose by US$2.58/bbl to US$64.20/bbl in the week to 16 April – a four-week high. Strong economic indicators from China and the US improved the demand outlook. Additionally, upward revisions to 2021 global oil demand by both OPEC and the IEA supported the price move, although the bulk of the demand increases were focused on H2 2021. The geopolitical risk premium also increased last week, following attacks on Saudi Arabian oil facilities and an Iranian nuclear enrichment site. Our global composite refining margin weekly average fell US$0.42/bbl, from a one-year high, to US$4.47/bbl. Light product cracks declined in all regions, with the sharpest falls recorded in naphtha.

Table of contents

  • No table of contents specified

Tables and charts

No table or charts specified

What's included

This report contains:

  • Document

    Weekly Historical Margins 2021Apr19.xls

    XLS 347.50 KB

  • Document

    Weekly Report 2021Apr19.pdf

    PDF 1.40 MB