Oil products price forecast mid-month update August 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 August 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 August. For this mid-month update we have revised our August monthly Brent price outlook to align with our Macro Oils Service short-term August Outlook. Our monthly ex-RVO Global Composite margin recovered in the first half of August, inline with the August 5-year average. Strong light end cracks supported by Atlantic basin gasoline demand and firm Asian naphtha petrochemical feedstock demand has outweighed continued weak global middle distillate cracks. The next full update to our prices and margins forecast will published on 1 September 2021.