Commodity Market Report
Global products market weekly: Margins end four consecutive weeks of decline as diesel cracks strengthen
Report summary
The oil market trended higher in the week, as China’s purchasing managers’ index (PMI) in February jumped to a decade high of 52.6, injecting confidence in China’s oil demand recovery ahead. Strength in China demand overshadowed record high US crude inventories and expectations of further US interest rates hikes in the near-term. North Sea Dated crude’s weekly average rose by US$1.85/bbl, in the week ended 3 March. Our ex-RVO global composite refining margin strengthened by US$1.14/bbl to US$8.99/bbl as middle distillates cracks recouped its losses on slowing Europe imports. Weekly margins were at US$5.04/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:
Other reports you may be interested in
Commodity Market Report
Global products market weekly: Distillate markets ease despite ongoing global maintenance
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: Refining margins fall, as east-west freight costs ease
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: Margins rise as heavy maintenance continues
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