Commodity Market Report

Global products market weekly: Gasoline drives stronger refining margins despite strength in crude

This report is currently unavailable

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

- FAQs about online orders
- Find out more about subscriptions

*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

The oil market continued the upward rally through the week, driven by heightened geopolitical tensions in the Middle East and supply-loss concerns over the impact of Hurricane Beryl on production in the Gulf of Mexico. A sharp draw of 12.16 million bbl in US crude inventories also supported the price rise. On the other hand, the decline in the PMI of two major economies, the US and China, in June, implying an economic slowdown, as well as increased output in Iran and Nigeria, weighed on crude prices. North Sea Dated crude’s weekly average increased by US$1.76/bbl, in the week ended 5th July. Our ex-RVO global composite refining margins expanded by US$0.90/bbl to US$5.93/bbl, primarily driven by strength in gasoline cracks across US, Middle East, and Asia. Weekly margins were at US$0.03/bbl below the five-year historical average for the same week (excluding 2022).

Table of contents

  • Executive summary

Tables and charts

No table or charts specified

What's included

This report contains:

  • Document

    Weekly Report 2024Jul08.pdf

    PDF 519.96 KB

  • Document

    Weekly Historical Margins 2024Jul08.xls

    XLS 547.50 KB