Commodity Market Report
Global product markets weekly: Snow and freezing temperatures unable to lift refinery margins
Report summary
For the week commencing 1 January, refinery margins typically weakened. Crude prices continued to strengthen, with Brent having gained almost US$5/bbl over the past four weeks. As a result, Brent reached its strongest weekly average since 1 December 2014. Loadings from the Forties Pipeline System recommenced late December having been shutdown for almost 20 days. But anti-government protests in Iran have led to greater political risk being factored into crude prices. US crude runs reached a new seasonal high, which helped support a domestic stock draw of 7.4 mbbls and points towards a tighter crude market. Cushing crude stocks were at their lowest since February 2015, while the Brent-WTI differential continued to widen towards US$7/bbl.
Table of contents
- Executive Summary
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 product markets short-term outlook April 2024
Monthly global commodity market reports and global product-by-product supply- demand balance with stock forecasts and a net trade forecasts
$1,900
Commodity Market Report
Asia product markets short-term outlook April 2024
Monthly update incorporating price forecasts and differentials, crude runs, refining margins and product-by-product supply-demand balances.
$1,900
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
