Commodity Market Report
Global products market weekly: Refining margins fall, as east-west freight costs ease
Report summary
The oil market firmed at start of the week amid tensions in Middle East and Red Sea. However, oil prices started softening amid concerns over the delay in timing of rate cuts by the Fed amid higher US inflation. Moreover, consecutive fourth week rise in US crude oil inventories put downward pressure on prices towards the end of the week. North Sea Dated crude’s weekly average decrease by US$0.18/bbl, in the week ended 23rd February. Our ex-RVO global composite refining margins by contracted US$2.35/bbl to US$7.62/bbl, owing to decline in light and middle distillates cracks across Singapore, NWE and USGC. Weekly margins were at US$3.66/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: 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
Commodity Market Report
Global products market weekly: Refining margins ease as naphtha cracks continue to weaken
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 gains as Red Sea diversions and refinery turnarounds support cracks
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
