Commodity Market Report
Oil products price forecast update June 2024
*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 an update to our short-term products prices and margins forecasts. Prices and margins for June 2024 have been updated to reflect the latest supply and demand changes in our balance forecast. May saw refined product cracks continue to weaken globally, as bearish diesel sentiment remained prevalent, and gasoline demand data continued to disappoint. While the slide in margins over the last quarter has been significant, current refining economics are more representative of a balanced global market, similar to what was seen pre-COVID. While this should lead to more stable prices, the consequence for simpler configurations globally is a return to marginal economics after several years of strong profits.
Table of contents
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Oil prices fall further as signs of weak global economic activity persist
- Brent price outlook
- Key changes to our view on prices and margins
- Market drivers to watch:
- Crude price and differential analysis
- Regional refining margin analysis
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What's included
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