Commodity Market Report
Global product markets weekly update: Margins dragged down by weaker fuel oil
Report summary
The dated Brent price strengthened further in the week commencing 18th March. The weekly price gained $1.90/bbl to average $67.50/bbl. Prices were supported by signs of increased compliance to production cuts agreed by OPEC+ countries. However, with WTI prices close to $60/bbl there is increased probability that the US will extend waivers on Iranian crude imports to try and ease supply tightness and slow down the increase in US gasoline prices.
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