Flux Research

Our team of skilled analysts, by utilising the depth and breadth of Flux's proprietary data, position ourselves at the cutting edge of market analysis. This unique vantage point grants us an unparalleled perspective in the market, enabling us to identify emerging trends and lucrative opportunities.

Refinery Margins Report

In the week to 18 July, refinery margins declined slightly across the curve, with the Asian refinery margin remaining almost unchanged at the front.

21 July 2025

10 page report

In the week ending 18 July, refinery margins declined slightly across all tenors, with the Asian refinery margin remaining almost unchanged in the prompt but weakening systematically down the curve.
In the prompt, crude and products saw a relatively quiet week, with slight crude weakness and diesel/gasoil strength providing support to margins across regions, with Asian and European margins increasing by $0.03/bbl and $0.48/bbl, respectively.

Refinery Margins Report