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Strong Asian and US Margins

Refinery Margins Report for the week ending 20 April
Published: April 27, 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
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In the week ending 20 April, Refinery Margins were neutral in Europe and US. Asian M1 Margins however, strengthened to $32.16/bbl on 24 Apr (+$1.77/bbl w/w). European Margins rallied to $17.84/bbl on 22 Apr but fell to $17.71/bbl (+$0.01/bbl w/w) on 20 Apr. US M1 Margins strengthened to $33.80/bbl (+$4.68/bbl w/w).

  • European margins saw strength in products: Gasoil Crack rose  +$10.21/bbl w/w, and  Naphtha Crack rose +$3.95/bbl w/w. 3.5 Barges Crack, however, fell by -$3.15/bbl.
  • Asian margins rose on strong Gasoil Cracks:  Sing Gasoil Crack rose by +$12.96/bbl, GO Dubai Crack up +$12.45/bbl, Kero Dubai Crack also rose by +$9.22/bbl w/w.

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