Oil products price forecast mid-month update April 2021

The excel files associated with this report provide a mid-month update to our short-term products prices and margins forecasts. Prices and margins for April 2021 have been updated to reflect the oil price movements so far this month. These changes reflect recent data releases and major market developments since our last update on 1 April. For this mid-month publication, we have updated our Brent price outlook to align with our Macro Oils Service short-term April Outlook. Our monthly Global Composite margin increased US$1.40/bbl to US$4.36/bbl in the first half of April, on course for the highest monthly value since October 2019. However, we expect the composite margin to ease slightly in May, as the recent strength in Atlantic Basin gasoline cracks soften. The next full update to our prices and margins forecast will published on May 3 2021.