Commodity Market Report
Global products market weekly: Gasoline cracks strengthen on US outages ahead of summer driving season
Report summary
The oil market rose early in the week with an unexpected sharp draw in both US crude and gasoline inventories moving into the peak summer driving season. A warning from Saudi Arabia’s energy minister of short-sellers betting on oil prices falling also led to speculations around further OPEC+ output cuts in the upcoming meeting, supporting prices. North Sea Dated crude’s weekly average rose by US$0.81/bbl, in the week ended 26 May. Our ex-RVO global composite refining margin increased by US$0.28/bbl to US$7.25/bbl, with strength in naphtha and gasoline cracks due to refinery outages at secondary units in the US. Weekly margins were at US$2.92/bbl above the five-year historical average for the same week (excluding 2022).
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: Despite strong crude, cracks rise with start of autumn maintenance season
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: Gasoline cracks strengthen on tightened supply from European refinery strikes
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: Russia’s export ban lifts crude sentiment, diesel cracks rebound
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