Flux Markets | Global Refinery Margins Rally Across Asia, US, and Europe Skip to main content
Our reports have now moved onto our Flux platform. Existing customers can Login to Flux for access, or visit The Officials to sign up for free trial access.

Our reports are now published by The Officials, and accessible through the Flux platform. Login to Flux 4.0 to view them, or visit The Officials website to learn more and sign up to a free trial.

Global Refinery Margins Rally Across Asia, US, and Europe

Refinery Margins Report for the week ending 17 July
Published: July 20, 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
Share

In the week ending July 17, refinery margins for Asia, US, and Europe all rose. Asian Refinery Margin moved from $24.47/bbl w/w to a high of $37.35/bbl before finishing at $37.13/bbl (+8.35 $/bbl w/w). European Refinery Margin reached $27.56/bbl, marking an upward change of +$3.09/bbl w/w. US Refinery Margin closed the week at 39.77 $/bbl, up by +$4.53/bbl w/w.

  • European Margins: European margins showed significant movement in the GO and EBOB Cracks. The GO Crack rose +10.03 $/bbl w/w to $66.92/bbl, marking the largest weekly change. Meanwhile, the EBOB Crack also increased by +5.59 $/bbl w/w to $36.61/bbl.
  • Asian Margins: Asian margins displayed varied movements across both crack types. On Dubai cracks, Kero Dubai Crack showed strength, rising +14.43 $/bbl w/w, followed by GO Dubai Crack which gained +12.51 $/bbl w/w to $76.23/bbl. Also noted were 92 Dubai Crack (+6.63 $/bbl w/w) and MOPJ Dubai Crack (+2.42 $/bbl w/w). On Brent cracks, Sing Gasoil Crack rose +11.24 $/bbl w/w to $70.24/bbl, while 92 Crack increased by +5.29 $/bbl w/w.

Written by

Giovanni Simonetti

Junior Data Analyst, Flux
Giovanni Simonetti

About Refinery Margins Report

A weekly free report encompassing regional refinery economics based on proprietary yields of financial swaps contracts

More News

Brent supported amid concerns of force majeure in Libya

The US has marked another day of record-high diesel prices, according to AAA....

Fundamentals vs Financial Flows

Continued strength in Dubai crude given geopolitical escalations in the Middle East; however, downside is limited...

The Run Continues

Dated Brent physical diff soars from $3.40 to $8.82/bbl; Oct'26 DFL nears $10; strength concentrated in 05-09 Oct roll, no reversal in sight

Heads of Desk: Top of Mind – Episode 65

The heads of Onyx Commodities' trading desks discuss the latest in the Oil Derivatives as of 15 September 2026