Commodity Market Report
Global products market weekly: Margins rise as refinery maintenance keeps supply under pressure
Report summary
The oil market weakened through start of the week over the delay in the timing of rate cuts by the Fed amid sustained US inflation. Prices were further pressured by data showing non-OPEC exports and OPEC+ crude production in February were both above January levels. However, prices gained at the end of the week as IEA revised its oil demand upward by 110kbd from last month, and US IEA crude inventories declined as refineries ramped up their run rates. North Sea Datedcrude’s weekly average declined by US$0.85/bbl, in the week ended 15thMarch. Our ex-RVO global composite refining margins increased by US$1.02/bbl to US$8.55/bbl, owing to strength in Naphtha and heavy distillates cracks. Weekly margins were at US$4.28/bbl above 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:
Other reports you may be interested in
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
Commodity Market Report
Global products market weekly: Margins rise as Spring maintenance to tighten products supply
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: 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
