Commodity Market Report
Oil products price forecast mid-month update June 2021
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
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 May 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 June. For this mid-month update we have revised our 2021 Brent price up to align with our Macro Oils Service short-term June Outlook. Our monthly ex-RVO Global Composite margin decreased US$0.48/bbl to US$1.25/bbl in the first half of June. Tighter crude markets in the last two weeks have pressured margins and globally gasoline cracks have eased after the EIA data reported large stock increases in the US. The next full update to our prices and margins forecast will published on July 1 2021.
Table of contents
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Global refining margins dip as underlying physical crude strength narrows light – heavy crude differentials
- Crude price and differential analysis
- Saudi Aramco OSP Outlook
- Regional refining margins analysis
Tables and charts
This report includes the following images and tables:
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Saudi Aramco’s Official Selling Price Arab Light into NW Europe
What's included
This report contains:
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