Commodity Market Report
Global product markets weekly: NW Europe gasoline and refinery margins bounce back
Report summary
For the week commencing 2 April, refinery margins recovered sharply in Europe following a US$6.50/bbl surge in the gasoline crack, relative to Brent. Margins elsewhere varied by region but were primarily slightly stronger. Weekly stock levels for gasoline, middle distillates and residual fuel oil in the US, NW Europe, Japan, Singapore and the Middle East are expected to have drawn down. But gasoline stocks remain above October 2017 levels whereas fuel oil and middle distillates stock levels are much lower.
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