Commodity Market Report

Global products market weekly: Crude spikes on supply disruptions whilst light ends soften

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

10 January 2022

Global products market weekly: Crude spikes on supply disruptions whilst light ends soften

Report summary

The oil market gained in the first week of the year as outright prices drew support from growing confidence that the impact on demand from the Omicron variant will be less severe than initially expected. The market weighed supply concerns as protests in Kazakhstan led to fears of lower supplies, in addition to continued pipeline outages in Libya. Prices also gained as US crude inventories drew for the sixth consecutive week and data showed OPEC output only increased by 70kb/d in December, supporting market sentiment that supply remains tight. Saudi OSPs were however slashed for all Europe and Asia bound grades. North Sea Dated crude’s weekly average price rose by US$3.27/bbl, in the week ended 7 January. Our ex-RVO global composite refining margin fell by US$0.64/bbl to US$4.99/bbl, as gasoline and naphtha cracks weighed on margins. Weekly margins were at US$2.44/bbl above the five-year historical average for the same week.

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 2022Jan10.xls

    XLS 378.00 KB

  • Document

    Weekly Report 2022Jan10.pdf

    PDF 1.40 MB