Commodity Market Report

Global product markets weekly: Margins strengthen; Brent price falters

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28 May 2018

Global product markets weekly: Margins strengthen; Brent price falters

Report summary

For the week commencing 21 May, weekly average crude price movements were mixed across all the regions. The Dated Brent price fell away from near US$80/bbl after a heavy decline on Friday. This was primarily due to both Saudi Arabia and Russia discussing the potential move to increase crude oil production, in order to alleviate any future tightness caused by losses in supply from Iran and Venezuela. The latest data from the US show a crude stock build of 5.8 mbbls, but the first draw from Cushing in five weeks. The draw at Cushing eased the declined in WTI prices but the Brent-WTI differential remains wide at almost US$7.70/bbl.

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  • Document

    Weekly Report 28MAY18.pdf

    PDF 1.41 MB

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    Weekly historical margins_28MAY18.xls

    XLS 304.00 KB

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    Global product markets weekly: Margins strengthen; Brent price falters

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