Commodity Market Report

Global product markets weekly: Tightening crude supply undermines margins

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09 July 2018

Global product markets weekly: Tightening crude supply undermines margins

Report summary

For the week commencing 02 July, weekly average crude prices strengthened as Libyan crude exports were disrupted further and Iran output continued to decline. Force majeure was applied at Libya’s Marsa el-Hariga and Zuetina loading ports. Over the last three weeks, Libyan crude production has halved to 530 kb/d. The Brent-WTI spread remained narrow as Syncrude Canada’s upgrader has cut Canadian crude output by 10%. There was a crude stock draw at Cushing which negated the effects of a surprise build in US total crude stocks.

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This report contains:

  • Document

    Weekly historical margins_9JUL18.xls

    XLS 246.50 KB

  • Document

    Weekly update 09Jul18.pdf

    PDF 2.60 MB

  • Document

    Global product markets weekly: Tightening crude supply undermines margins

    PDF 116.50 KB

  • Document

    Global product markets weekly: Tightening crude supply undermines margins

    ZIP 2.82 MB

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