Commodity Market Report
Oil products price forecast update July 2021
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
This update incorporates all of the price forecasts, crude differentials and refining margins through to end-2022 on a regional level. Our monthly Ex-RVO Global Composite margin decreased US$0.72/bbl to US$1.01/bbl in June as global gasoline cracks weakened as refinery utilisation spiked in the Atlantic basin. We expect the composite margin to recover from the current pre-summer lows to US$1.89/bbl in July, before increasing to US$2.68 in September as Atlantic Basin summer travel demand peaks. The next update to our prices and margins forecast will be our mid-month update published by close of business Friday 16 July.
Table of contents
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Global refining margin recovery eases as US refiners ramp up
- Brent Price Outlook
- Key Changes to our prices and margins view
- Crude price and differential analysis
- Regional refining margin analysis
Tables and charts
This report includes the following images and tables:
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US PADD1 Gasoline weekly imports
What's included
This report contains:
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