Commodity Market Report
Global product markets weekly: Black Friday crude price crash helps refinery margins
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Report summary
The average Dated Brent crude price plunged further in the week commencing 19th November. The weekly average was $4.60/bbl lower, with a dramatic one day fall of $3.90/bbl on Black Friday. We have now broken below the $60/bbl mark and this will cause concern for Saudi Arabia and increase pressure to implement production cuts. However, President Trump has again stated that he wants lower prices and the market waits to see what indications will come from the G20 meeting this week and the OPEC meeting on 6th December.
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