Commodity Market Report

Global products market weekly: Refining margins weaken further as gasoline cracks fall

Get this report


You can pay by card or invoice

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders
- Find out more about subscriptions

The oil market strengthened at the start of the week after a three-week decline spree. The strength was due to uncertainty ahead of the OPEC+ meeting and the expected extension of crude cuts into the second half of this year. Crude prices were also supported by concerns over the path of the Israel-Hamas war. However, a further rise was restricted due to weak US fuel demand despite the holiday weekend. North Sea Dated crude’s weekly average increased by US$0.75/bbl, in the week ended 31st May. Our ex-RVO global composite refining margins contracted by US$0.88/bbl to US$4.14/bbl, owing to a decline in gasoline cracks across all regions. Weekly margins were at US$0.84/bbl below 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:

  • Document

    Weekly Report 2024June03.pdf

    PDF 493.87 KB

  • Document

    Weekly Historical Margins 2024June03.xls

    XLS 544.00 KB