Commodity Market Report
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:
Other reports you may be interested in
Commodity Market Report
Global products market weekly: Distillate markets ease despite ongoing global maintenance
Weekly review of global refining margins across NW Europe, the Med, US Gulf Coast, New York Harbour, Singapore and the Middle East Gulf.
$1,050
Commodity Market Report
Global products market weekly: Refining margins ease as crude continues to climb on geopolitical tensions
Weekly review of global refining margins across NW Europe, the Med, US Gulf Coast, New York Harbour, Singapore and the Middle East Gulf.
$1,050
Commodity Market Report
Global product markets short-term outlook April 2024
Monthly global commodity market reports and global product-by-product supply- demand balance with stock forecasts and a net trade forecasts
$1,900
