EMEA Chart Pack February 2026
Sparta’s Chart Packs are ready-made collections of charts that highlight key commodity market moves, giving traders a fast, visual snapshot of what matters without building charts themselves.
Key takeaways
> Oil Narratives: Geopolitics are supporting flat price, but US and China stockbuilds cap rallies, while heavier crude supply and Venezuelan flows are tightening HSFO and shifting yields toward middle distillates.
> Crude: Brent-linked WAF grades are uncompetitive on strong DFL and high prompt prices, WTI Midland dominates into Europe, and EFS is likely to narrow as maintenance pushes light sweet barrels East.
> Light Ends: Gasoline remains in deep contango, Sing 92 presents buying interest, and naphtha is most exposed to Iran risk with potential for further E/W widening.
> Middle Distillates: Diesel spreads risk turning higher into March and April on refinery turnarounds and limited USGC arb, while NWE jet looks stretched with East-to-West flows open.
> Residual Fuel Oil: HSFO strength has pushed ARA into backwardation, with potential VLSFO upside as blending components tighten and Dangote reduces LSSR supply.
> Freight: Crude freight lacks upside with WAF barrels struggling to clear, while TC2 remains bearish on vessel length and weak transatlantic gasoline demand.
Click to read EMEA Chart Pack February 2026 – Prospecting Facing
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