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MNI Commodity Weekly: End of Summer Demand Set to Weigh on U.S. Refiners

OIL

Executive Summary:


  • End of Summer Demand Set to Weigh on U.S. Refiners: After record margins in recent years, U.S refiners have faced a more underwhelming summer in 2024 while Q3 seasonally leads to further unwinding, adding further pressure on an expected OPEC barrel return in October.
  • Oil Markets: Front month crude futures have stabilized after trading lower since Aug 12 amid easing Middle East risk sentiment, soft demand and a potential supply surplus into next year. Gasoline and diesel cracks have seen some support despite the ongoing downward trend seen since the start of the month amid sluggish fuel demand and healthy global supply.
  • Analyst Views: See analyst views from biggest names in the industry.


    • Full piece here:


    MNI Commodity Weekly - End of Summer Demand Set to Weigh on U.S. Refiners.pdf

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