Oil products price forecast mid-month update June 2022

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 June 2022 have been updated to reflect the oil price movements so far this month since our last update on 1 June. For this mid-month update, we have revised our monthly Brent price forecast to align with our Macro Oils Service short-term June outlook. Our monthly ex-RVO Global Composite margin increased in the first half of June as strength in gasoline and diesel more than offset the sharp declines in naphtha and fuel oil. We expect continued strength in transportation fuels and global margins to remain high in Q3 2022, an upward revision form our previous outlook. The next full update to our prices and margins forecast will published on 1 July 2022.