Commodity Market Report

Global product markets weekly: US margins weaker as crude differentials rose

Get this report

$1,050

You can pay by card or invoice

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.
 

- FAQs about online orders
- Find out more about subscriptions

30 May 2021

Global product markets weekly: US margins weaker as crude differentials rose

Report summary

The oil market rose last week, reversing the declines of the prior two weeks. North Sea Dated crude’s weekly average rose by US$1.28/bbl to US$68.78/bbl in the week to 28 May. Data released last week further indicated that the US economy was recovering strongly from the pandemic induced recession. The expectation of higher oil demand fuelled the recovery in oil prices. Further progress was made in the negotiations with Iran to renew the 2015 nuclear deal. The prospect of Iranian crude supplies returning to the global market was overshadowed by the optimism of future oil demand. Our global composite refining margin decreased US$0.24/bbl to US$3.98/bbl. Margins fell strongly in the Mediterranean as demand remained low, particularly in the east of the region.

Table of contents

  • No table of contents specified

Tables and charts

No table or charts specified

What's included

This report contains:

  • Document

    Weekly Historical Margins 2021May31.xls

    XLS 358.00 KB

  • Document

    Weekly Report 2021May31.pdf

    PDF 1.39 MB