Commodity Market Report
Global products market weekly: Margins squeezed by strength in crude as demand outlook stays bearish
Report summary
The oil market rose as Saudi announced that it will extend its voluntary production cuts into August and Russia joining in supply cuts such that it will reduce its exports in August. Decrease in US crude stocks and a weaker dollar led prices to rise further towards the end of the week. North Sea Dated crude’s weekly average increased by US$2.78/bbl, in the week ended 7 July. Our ex-RVO global composite refining margin decreased by US$0.67/bbl to US$7.91/bbl, due to strong Brent prices, despite support from middle and heavy distillate cracks. Weekly margins were at US$3.89/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: Refining margins find their summer floor, as diesel gathers support as gasoline falters
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: Middle distillates continue to slide as inflationary concerns persist
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 ease as crude continues to climb on geopolitical tensions
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
