Commodity market report

Global product markets weekly: Middle distillate stocks continue to draw down

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Report summary

For the week commencing 16th October most gross refinery margins weakened on a global basis. The Brent crude price strengthened by US$1.60/bbl on a weekly average basis which keeps Brent near a two year high. Geopolitical tensions rose further last week placing a premium on Brent prices. The Iraqi federal army entered Kurdistan and quickly began the process of regaining control of the Kirkuk oil fields. Supply from the Bai Hassan and Avanah fields were temporarily disrupted. Over the weekend the OPEC Non OPEC producing countries Joint Ministerial Monitoring Committee (JMMC) issued a statement informing the market that the agreed production cut compliance rate was at 120% in September. In the slide pack available in the Downloads section weekly changes in prices and refinery margins are presented for six key pricing points around the globe: Northwest Europe Mediterranean US Gulf Coast New York Harbour Middle East Gulf Singapore

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    Weekly Report 23OCT17.pdf

    PDF 1.35 MB

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    Weekly historical margins 23OCT17.xls

    XLS 285.00 KB

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    Global product markets weekly: Middle distillate stocks continue to draw down

    ZIP 1.44 MB

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