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Strength in Asian Margins

Refinery Margins Report for the week ending 15 May
Published: May 18, 2026
Written by:
Giovanni Simonetti

Giovanni Simonetti

Junior Data Analyst, Flux
Giovanni Simonetti
Reviewed by:
Donna Dong

Donna Dong

Research Analyst, Flux
Donna Dong
11 page report
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In the week ending 15 May, Refinery Margins weakened in Europe and US. Asian M1 Margins however, rose to $31.67/bbl on 15 May (+$2.18/bbl w/w). European Margins fell to $16.58/bbl on 14 May before recovering to $17.49/bbl on 15 May (-$1.20/bbl w/w). US M1 Margins fell to $32.01/bbl (-$1.21/bbl w/w).

  • European margins saw strength in Gasoil and Gasoilne: Gasoil Crack rising  +$1.48/bbl w/w, and  EBOB Crack by +$1.66/bbl w/w. Naphtha Crack, however, fell by -$0.85/bbl.
  • Asian margins saw some strength in Brent Cracks: Sing 0.5 Crack rose by +$4.00/bbl, 92 Crack up +$3.68/bbl, and Sing Gasoil rose +$3.21/bbl. Asian Dubai Cracks also saw strength: Kero Dubai Crack up +$2.02/bbl w/w, and 92 Dubai Crack up +$3.24/bbl w/w.

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