Commodity Market Report

Global product markets weekly: Margins rise on strong light ends and fuel oil cracks

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13 September 2021

Global product markets weekly: Margins rise on strong light ends and fuel oil cracks

Report summary

The oil market edged down as oil production gradually returned after Hurricane Ida. North Sea Dated crude’s weekly average fell by US$0.77/bbl to US$72.06/bbl with China’s decision to release crude oil reserves to its private refiners adding concerns to slow demand from Asia as Covid recovery drags on. Losses were capped by lowered oil output as 77% of the US Gulf Coast offshore production still remains offline. Our ex-RVO global composite refining margin rose by US$0.14/bbl to US$5.52/bbl, recording three consecutive weeks of increase. Weekly margins were US$0.62/bbl above the five year historical average.

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This report contains:

  • Document

    Weekly Report 2021Sep13.pdf

    PDF 1.40 MB

  • Document

    Weekly Historical Margins 2021Sep13.xls

    XLS 367.00 KB