Commodity Market Report
Global product markets weekly: Margins fall as crude prices climb
Report summary
The global composite refinery margin weakened last week, falling to $4.25/bbl. The decline was due to higher crude prices and weaker crack spreads for middle distillates and fuel oil. Despite this, the composite margin is only slightly below the seasonal average. The margin should increase in coming weeks as the transition to summer specification gasoline continues while demand is boosted during the summer driving season.
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