Commodity Market Report

Global product markets weekly: US refiners lead the recovery in refinery margins

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30 July 2018

Global product markets weekly: US refiners lead the recovery in refinery margins

Report summary

Global crude prices increased in the week commencing 23rd July. The weekly average Dated Brent price strengthened by almost US$3/bbl, but this was still not enough to recover from the previous week's decline. Crude prices rallied on the decision of Saudi Aramco to halt crude shipments on the Bab al-Mandeb strait (between Yemen and Djibouti), which will lengthen the journey time for exports to Europe and North America. US crude prices also increased as domestic crude stocks continued to decline, despite US crude runs close to an eight-week low. However, the Brent-WTI differential increased back over US$4/bbl, which is the widest level in five weeks.

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This report contains:

  • Document

    Weekly update 30JUL18.pdf

    PDF 1.35 MB

  • Document

    Weekly historical margins_30JUL18.xls

    XLS 498.50 KB

  • Document

    Global product markets weekly: US refiners lead the recovery in refinery margins

    ZIP 1.56 MB

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