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Weak Asian Margins

Refinery Margins Report for the week ending 17 April
Published: April 20, 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 17 April, Refinery Margins strengthened in Europe and US. Asian M1 Margins however, fell to $27.56/bbl on 17 Apr (-$5.16/bbl w/w). European Margins fell to $13.48/bbl on 13 Apr but rallied to $17.61/bbl (-$2.03/bbl w/w) on 17 Apr. US M1 Margins strengthened to $29.12/bbl (+$1.12/bbl w/w).

  • European margins were driven by Dated as product declined. Gasoil Crack falling  -$7.24/bbl w/w, and  Naphtha Crack fell -$1.45/bbl w/w. EBOB Crack, however, rose by +$2.45/bbl.
  • Asian margins fell on weak Gasoil Cracks:  Sing Gasoil Crack fell by -$12.20/bbl, GO Dubai Crack down -$8.49/bbl, Kero Dubai Crack also fell by -$11.12/bbl w/w. There was some strength in380 Dubai Cracks which rose by +$2.91/bbl w/w.

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