Commodity Market Report
Global products market weekly: Supply disruptions and reduced inventories lead to margin strength
Report summary
The oil market trended higher in the week due to crude supply disruptions from the shutdown of Libya’s oil fields amid local unrest and suspended loadings of Nigeria’s Forcados crude due to a potential leak at the terminal. Slowing US inflation data injected positivity that interest rate hikes could soon peak, providing support to market sentiment and prices – though Friday’s prices fell from profit taking. North Sea Dated crude’s weekly average rose by US$3.36/bbl, in the week ended 14 July. Our ex-RVO global composite refining margin increased by US$0.59/bbl to US$8.43/bbl, driven by strength in middle distillates in Europe and gasoline cracks in the US. Weekly margins were at US$4/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: 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: Margins firm as gasoline cracks price above distillates
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