Commodity Market Report
Global product markets weekly: Margins - shaken, not stirred, by pipeline hackers
Report summary
The oil market extended the recent rally last week, reaching a nine-week high. North Sea Dated crude rose by US$0.47/bbl to US$68.79/bbl in the week to 14 May. The shutdown of the Colonial Pipeline, following a ransomware attack, drove concerns that oil product supplies would run dry on the US East Coast, but the 2.5 million b/d product pipeline reopened on Thursday, easing these fears. Economic indicators, particularly in the US and China, continued to support prices. However, concerns increased last week that consumer and producer inflation may lead to tighter monetary policy and consequently a dampening of oil demand in the months ahead. Our global composite refining margin decreased US$0.24/bbl to US$3.98/bbl. Margins fell strongly in the Mediterranean as demand remained low, particularly in the east of the region.
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: Gasoline leads the way as distillates cracks weaken
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: 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
LNG short-term analytics: Weekly summary
Weekly updated fundamentals covering Global Gas and LNG markets
$4,000