Commodity Market Report

Global product markets weekly: Strong middle distillate demand raises margins

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04 October 2021

Global product markets weekly: Strong middle distillate demand raises margins

Report summary

The oil market extended its gains with supply remaining tight. North Sea Dated crude’s weekly average increased by US$3.54/bbl in the week ended 27 September, with an increase in competing energy prices leading additional demand to switch into oil products and pushing for greater oil demand. A stronger dollar led prices to drift lower in the latter half of the week. Our ex-RVO global composite refining margin rose by US$0.20/bbl to US$5.57/bbl with strong middle distillate demand, offsetting weakness in gasoline cracks. Weekly margins were at US$1.10/bbl above the five-year historical average for the same week.

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  • Document

    Weekly Report 2021Oct04.pdf

    PDF 1.42 MB

  • Document

    Weekly Historical Margins 2021Oct04.xls

    XLS 369.00 KB