Commodity Market Report
Global product markets weekly: US gasoline thirst drove global margins over the five-year average
Report summary
The oil market fell for a second week. North Sea Dated crude’s weekly average dropped US$1.57/bbl to US$70.99/bbl in the week to 13 August. Concerns increased that global oil demand will be slower than recent expectations as the Covid-19 Delta variant continues to spread. In particular, the strict measures imposed by the Chinese government to contain the virus is likely to result in supply bottlenecks globally. A firmer US dollar also pressured prices last week. The likelihood of tighter US monetary policy increased as producer price inflation continued to trend higher. Our ex-RVO global composite refining margin rose US$0.31/bbl to US$4.78/bbl, the seventh consecutive weekly increase, and the highest weekly average since October 2019.
Table of contents
- No table of contents specified
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 products market weekly: Refining margins find their summer floor, as diesel gathers support as gasoline falters
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
Commodity Market Report
Global products market weekly: Low complexity refiners marginal as cracks continue to slide
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
Commodity Market Report
North America gas weekly update: Freeport LNG is fully back
Henry Hub gas prices rallying
$1,700