Giovanni Simonetti
Junior Data Analyst, Flux
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Asian Margin Falls as EU and US Margins Rally
Refinery Margins Report for the week ending 21 August
In the week ending August 21, refinery margins experienced varying trends across global markets. Asian Margins showed a notable downtrend, falling from highs near $40/bbl down to $37.45/bbl after losing $1.95/bbl w/w. European Refinery Margins ended at $28.58/bbl, recording a modest increase of +$1.04/bbl w/w. Meanwhile, US margins settled at $39.22/bbl with a +$0.75/bbl change w/w.
- European Margins: European margins showed strength this week, supported by key products such as the GO Crack and EBOB Crack, both of which climbed significantly w/w. The GO Crack rose +$3.11/bbl w/w to $79.42/bbl, while EBOB Crack increased +$3.42/bbl w/w to $35.46/bbl. However, the 3.5 Bgs Crack fell sharply -$3.00/bbl w/w to $12.05/bbl.
- Asian Margins: Asian margins saw significant volatility across both crude benchmarks. On Dubai cracks, the 92 benchmark was the biggest mover, softening by -$4.04/bbl w/w to 21.42/bbl, while Kero Dubai Crack and the 380 crack also softened w/w at -$2.26/bbl and -$2.31/bbl, respectively. On Brent cracks, Asian margins found support through S10 BRT rising +$2.00/bbl w/w to 69.25/bbl while the 92 crack fell -$1.93/bbl w/w and Sing 0.5 Crack moved down -$1.00/bbl w/w.
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About Refinery Margins Report
A weekly free report encompassing regional refinery economics based on proprietary yields of financial swaps contracts
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