Commodity Market Report

Global products market weekly: Refining margins buoyed by maintenance despite spiking oil prices

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The oil market strengthened at the start of the week following the death of the Hezbollah leader and the start of ground operations in Southern Lebanon. The escalation continued with Iran retaliating by firing missiles at Israel on 1st October, driving up oil prices. Talk of Israel targeting Iran’s oil infrastructure and increasing concerns of further regional escalation saw prices continue to rise. At the same time, the return of Libyan production provided some downward support. Ultimately, North Sea Dated crude’s weekly average increased by US$2.05/bbl for the week ended 4th October.

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    PMSST 241007.pdf

    PDF 672.57 KB

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    Weekly Historical Margins 2024Oct07.xls

    XLS 560.50 KB