Commodity Market Report

Global products market weekly: Margins remain broadly stable as middle distillate cracks offset weakness in light distillates

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30 May 2022

Global products market weekly: Margins remain broadly stable as middle distillate cracks offset weakness in light distillates

Report summary

The oil market was supported by concerns of supply tightness as weekly US crude inventories declined further and products inventory are low ahead of US summer driving season which will see strong products demand. North Sea Dated crude’s weekly average increased by US$3.81/bbl, in the week ended 27 May. Our ex-RVO global composite refining margin rose by US$0.30/bbl to US$23.00/bbl, as increases in diesel/gasoil cracks offset weakness in naphtha cracks. Weekly margins were at US$20.32/bbl above the five-year historical average for the same week.

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  • Document

    Weekly Historical Margins 2022May30.xls

    XLS 393.00 KB

  • Document

    Weekly Report 2022May30.pdf

    PDF 1.42 MB