Flux Markets | Strength Across all Regions Skip to main content

Strength Across all Regions

Refinery Margins Report for the week ending 16 January
Published: January 26, 2026
Written by:
Giovanni Simonetti

Giovanni Simonetti

Junior Data Analyst, Flux
Giovanni Simonetti
Reviewed by:
Harinder Sandhu

Harinder Sandhu

Quantitative Research Associate, Flux
Harinder Sandhu
11 page report
Share

In the week ending 16 January, Refinery Margins rose across all regions: Asian M1 Margins up to $10.46/bbl (+$1.26/bbl w/w), European M1 Margins up to $6.55/bbl (+$0.46/bbl w/w), and US Margins up to $13.93/bbl (+$1.19/bbl w/w).

  • Asian margins were strong: Sing Gasoil cracks rose by +$1.50/bbl w/w, and 380 Crack rose on the week by +$1.70/bbl. Dubai Cracks  however saw the most strength: Gasoil Dubai Cracks rose by +$3.08/bbl, and 380 Dubai Cracks rose by +$2.06/bbl. w/w.
  • In Europe Gasoil Crack was the biggest mover, rising by +$2.44/bbl w/w, 3.5 Bgs Cracks also strengthened, rising by +$0.99/bbl.

More News

Heads of Desk: Top of Mind – Episode 46

The heads of Onyx Commodities' trading desks discuss the latest in the Oil Derivatives as of 5 May 2026

Market Top

Brent bullish at $110, spreads steady, cracks consolidating, gasoline weak; momentum signals diverge, caution on reversals.
9 page report

Brent Below $113/bbl

UAE-Iran clash, US-Iran tensions in Hormuz, Maersk transit limited, Ukraine hits KINEF refinery; spreads widen
4 page report

RBA Raises Cash Rate, Rupee Hits Record Low, Euro Manufacturing PMIs

RBA hikes, hawkish on inflation; rupee hits record low on oil surge and outflows; Europe PMIs strong; UK sales boosted by policy effects