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Read the latest trading news, views and insights from Sparta’s team of experts.

10 October 2024

Short-term pressures on Europe, but will it last?

9 October 2024

Diesel market faces limited prompt upside as Middle East risks fade and US pricing adjusts to curtail exports

8 October 2024

Geopolitical premium fuels gasoline flat prices, while arbitrage outlook threatens RBOB complex

7 October 2024

Spectre of escalation roils paper markets and arb econs

3 October 2024

Come together: Surging E/W spread countered by weaker Asian naphtha cash diffs, global cracks and time spreads find ceiling

2 October 2024

Continuing bullish signals for ICE GO spreads and cracks but recovering margins/returning supply will be important to monitor

1 October 2024

European gasoline rebounds, but Q4 outlook does not point to further increases

30 September 2024

North Sea competitiveness improves abroad and into refineries, but Libya return spells trouble

26 September 2024

Gold(en) rush: Naphtha fixture frenzy ahead of Asian holiday defies closed arbs, props up cash diffs and E/W

25 September 2024

Whilst East Asian diesel feels relatively flat, there appears to be some warranted optimism in ICE GO and HO

24 September 2024

Singapore shielded from further downside for now as EBOB rebound hits a ceiling

23 September 2024

Crude markets still creaking under the weight of margin pressure

19 September 2024

The crack up: Physical, paper naphtha market divergence to be tested by softer Asian petchems

18 September 2024

Continuingly bearish positions held in the market but with run cuts and maintenance ongoing, now could be a nice time to get long

17 September 2024

From European peak to US and Singapore opportunities

16 September 2024

Physical crude looks set to soften further

12 September 2024

Free fallin’: Softer naphtha prices have improved Asian steam cracker margins, firmed import appetite

11 September 2024

Maintenance, winter demand and runcuts may lend some short-term strength to global distillate. Refinery additions are likely to overcome these in Q4

10 September 2024

European market finds a floor: Will it last?

9 September 2024

Physical crude holds up against flat price freefall, for now

5 September 2024

Nap time: Global cracks to remain strong, particularly in the East, as resupply concerns still dominate

4 September 2024

Maintenance and run cuts have resulted in a modest recovery in the diesel market but it should be limited with arbs open and pointing to Europe

3 September 2024

From decline to opportunity: European gasoline markets could find support from declining US inventories and increased East of Suez competitiveness

2 September 2024

Refinery margins & OPEC+ cancel out Libyan bull signal

29 August 2024

Bull-etproof: Global markets’ sharp correction dents naphtha strength

28 August 2024

The market turns increasingly bearish, whilst the medium term outlook has some positivity, but will we need run cuts as an additional solver?

27 August 2024

Markets tumble with Europe leading the way but first signs of a floor already in place

26 August 2024

Risks to the upside grow despite weak product markets

22 August 2024

FOB off: Med cash diffs soften with freight to reopen key naphtha arbs to NE Asia, ARA

21 August 2024

Significant diesel and jet overhang to work through, but Asian, European, Russian and US maintenance in September/October should be enough to turn the tide

20 August 2024

Market correction intensifies after summer driving season, pressuring gasoline timespreads, cracks and gas-nap towards historical norms

19 August 2024

North Sea to remain strong for a few more weeks and Q4 headwinds weakening slightly

15 August 2024

Twist of freight: Plummeting ship rates insufficient to reopen near-term naphtha arbs; FOB values to remain strong as refinery works loom

14 August 2024

Are we seeing the start of the recovery in both diesel and jet globally?

13 August 2024

Europe regains competitiveness amid freight adjustments, but Eastern competitiveness into the West keep timespreads and cracks under pressure

12 August 2024

Market rebound belies mixed signals in physical crude

8 August 2024

Shut tight: More global naphtha arbs in the red as refinery output dries up ahead of maintenance; spread, crack strength to linger

7 August 2024

The short term appears decidedly bearish, but could Q3 global maintenance and somewhat improving demand be enough to turn around an ailing distillate market?

6 August 2024

Gasoline markets pinning hopes on late-summer disruptions, but Atlantic Basin in particular facing significant headwinds

5 August 2024

Deferred WTI/Brent spreads need to narrow in the short-term

1 August 2024

The heat is on: Slackening Asian naphtha demand constricts E/W spread as petchems consumption slows; and Med, ARA output thins

31 July 2024

AG, WCI and US diesel arbs point or open to Europe, high jet yields start to take their toll on US and EU jet pricing particularly

30 July 2024

Rising blending costs in USGC reshape TA arb outlook and arbitrage opportunities to LATAM, while Asian market competitiveness points to further tightening E/W

29 July 2024

Dated-related crudes remain strong despite small week-on-week softening, while WTI the most attractive WoS grade in the East as wide EFS makes moving grades East tricky

25 July 2024

Despite robust demand, the current dynamics of the physical market and the correction in Asia point to the end of the upward trend in Europe

24 July 2024

The bearish run on diesel to continue, high US jet yields are important to monitor also

23 July 2024

Arb opportunities from the East push E/W higher, while Western options remain limited, and balances suggest further drops

22 July 2024

Crude draws in the US boost WTI vs Brent, but prompt waterborne fob keeping WTI attractive into NWE and Far East against North Sea crudes in particular

18 July 2024

Beryl rhymes with peril: Continued Med, AG naphtha strength shuts down end-Q3 arbs as weakness enters Asian markets

17 July 2024

Largely bearish diesel until Autumn maintenance, bullish jet until those arbs reopen

16 July 2024

Options for RBOB arbitrage have completely disappeared, while a European market with few export alternatives on the horizon points downwards

15 July 2024

Cushing rally sees WTI export arbs weaken, with US domestic issues at play

11 July 2024

A polarised market: physical prices stronger than paper, West outperforming East, and reversal arb emerging on the horizon

10 July 2024

Bearish on Asian and European diesel and jet until Europe’s September maintenance period; however important to monitor US hurricanes and European heat issues

9 July 2024

TA arb and freight mirror the outlook for EU arbitrage, while new opportunities arise for Houston and AG exports

8 July 2024

Physical Brent still primed to the downside, with time running out also for a bump in Q3 seasonal buying

4 July 2024

What the freight: Shipping rate volatility on Beryl fears and pre-holiday fixing shuts several prompt arbs; corrections to occurs by mid-month

3 July 2024

Europe’s steady distillate recovery to continue in advance of a potentially disrupted summer of refining in the western hemisphere

2 July 2024

The upward trend continues its course, the outlook for RBOB arbitrage improves and new destinations open up on the European horizon

1 July 2024

Brent strength retained for now while other global indicators of physical crude lag behind

27 June 2024

Close but no cigar: NWE naphtha FOB surge insufficient to offset still robust Med values; supply-side retreat expected next month; US demand appears tentative despite open arbs

26 June 2024

AG diesel arbs should be plentiful to Europe whilst high freights keep the USGC arb closed

25 June 2024

Rising TA arb signals potential upside as US prepares for summer demand peak, while Europe sees new supportive options in the horizon

24 June 2024

June’s Brent rally has seen the complex price out of Asia, WTI price firmly into Europe

20 June 2024

Guess who’s back? Critical naphtha arbs sustainably open on softer FOB premia, although Med, ARA refinery issues could erode margins

19 June 2024

Jet and diesel both exhibit strength but should find a ceiling with the opening of arbs in the coming weeks

18 June 2024

Still open for business: Softer reformate, naphtha keeps Europe-US gasoline arb marginally profitable; Sing blend components could get lifted by Pakistan demand

17 June 2024

Physical crude continues to slowly recover, but already putting the brakes on Eastern arb econs

13 June 2024

Do the Tussle: Freight volatility briefly opens and then shuts key arbs; narrow summer Asian pro-naps signal naphtha steam cracker advantage

12 June 2024

Global jet, and Atlantic Basin diesel in the very prompt, exhibit real strength, largely on the back of continuing closed arbs

11 June 2024

Driving season kickoff? TA improvement and RBOB margin from Europe gain momentum

10 June 2024

Physical market remains bogged down, but green shoots of margin optimism emerge

6 June 2024

Skyrocketing freight compresses most naphtha arbs; softer Med premia, resilient Asian pricing keep Eastbound arbs open; West of Suez arbs challenged by weak gasoline, surfeit of supply

5 June 2024

Unless run cuts really manifest strongly, the diesel outlook is decidedly bearish whilst surging global freights close arbitrage opportunities

4 June 2024

European arbitrage points towards Canada, Mexico and South America for July, due to the improvement of the TA arb and the increase in freight from USGC.

3 June 2024

OPEC+ to bring back volumes (on paper) in Q4, but actual supply to market will be dictated by demand, which for now remains weak

30 May 2024

Asian naphtha outlook turns cautiously optimistic, wider E/W spread to encourage more incremental Med flows; ARA upturn dependent on improved gasoline T/A arb

29 May 2024

Discussion of run cuts, turnaround delays and positive economic signals leads to some small positive signs in global diesel

28 May 2024

Cheaper European components stimulate T/A arb outlook for summer, while AG barrels continue to lose competitiveness in foreign markets

27 May 2024

All signs point to weakness in the oil market

24 May 2024

Asian naphtha time spreads correct after Tuapse, Daesan resume operations, making Med-Asia arbs uneconomic; further ARA weakness to widen E/W, while defiant US prices spurn inbound NYH cargoes

23 May 2024

Diesel continues to be very flat; closed arbs, maintenance in Asia and poor demand, whilst jet gains despite open arbs

22 May 2024

WAF remains one of few outlets for Europe, while competitive EoS market and poor E10 blend margins suggest further weakness for ARA

21 May 2024

North Sea weakens further, arbs East opening further, but poor demand prevails

16 May 2024

Unseasonably tight Asia pro-nap swaps unsustainable, weaker Europe to turn more Med cargoes East in July; US-ARA arb reopens on paper in Q4

15 May 2024

Remaining very cautiously bullish, ending of EU turnarounds and poor US diesel demand contrast with Asia Pacific turnarounds and “potential” runcuts

14 May 2024

Collapsing component premiums in the AG raising threat of further pressure on Atlantic Basin markets

13 May 2024

Arbs East verging on open; but anaemic demand still weighing on crude for now

9 May 2024

Weaker naphtha cracks, time spreads to challenge near-term arbs; slim window for Med product to find Asian homes appears

8 May 2024

Remaining very cautiously optimistic on diesel and jet pricing from here, despite positions held in the market

7 May 2024

Flat price tumble sees North Sea-East arbs beginning to open, WTI beginning to lose competitiveness abroad

6 May 2024

RBOB complex reacting quicker than EBOB to bearish signals, but pressure building on European pricing to move significantly lower soon as East struggles with high freight rates

2 May 2024

E/W naphtha to remain wide but fall short of record highs as Asia weakens and Europe threatened by near-term gasoline weakness; US to further soften amid lacklustre domestic demand

1 May 2024

Europe still priced out of major arb routes; Sing & USGC markets to take next hit

30 April 2024

Quality vs quantity to remain the main price driver into the summer months, with some short-term downside still on the cards for Atlantic Basin gasoline

29 April 2024

TI/Brent still primed to narrow; European crude demand yet to fire higher

25 April 2024

Market recovers on the back of arb to Asia marginally open; PADD 1 stocks suggest further tightening

24 April 2024

Diesel arbs are closed to Europe whilst US and Singapore diesel stocks reduce; signals somewhat of a recovery/floor after a long period of bearish sentiment in the diesel market

23 April 2024

EBOB’s unexpected uptick looks to have run its course as demand pressures mount, but TA can re-open sporadically as EBOB finds its way lower

22 April 2024

WTI strengthens position as marginal sweet barrel to Asia

18 April 2024

European and Asian markets moving away from lows, bearish trend in US prompts USGC export rise

17 April 2024

Bearish feel globally in diesel with Asia Pacific maintenance increasing whilst jet shows some recovery

16 April 2024

Gas-nap blowout sees TA Arb spread narrowing to close prompt RBOB movements

15 April 2024

Window for North Sea bearishness is closing, while heavy crude pool rallies further

11 April 2024

Red Sea arb too much for current European naphtha demand

10 April 2024

Bearish Asian and European diesel with some glimmers of hope in the US, whilst European jet continues to suffer

9 April 2024

Prompt RBOB arb open and E10 blending opportunities providing outlet for ARA blenders otherwise under continued pressure from US and EoS into typical outlets

8 April 2024

Medium-sour vs light-sweet divergence to continue, for now

4 April 2024

Is April the peak of naphtha markets’ bull run?

3 April 2024

A mixed bag – bearish diesel outlook clashes with ongoing geopolitical tensions

2 April 2024

T/A, E/W stubbornly narrow; Asian gasoline to come under pressure from softer aromatics, persistently strong AG exports; further RBOB upside needed to lure ARA into NYH

28 March 2024

Prompt NWE naphtha strength reopens Red Sea arb; Asia to remain unattractive for West-bound cargoes while USGC to buckle from Canadian demand loss

27 March 2024

A bearish sentiment is manifest; poor US diesel demand with increasing runs, all diesel arbs pointed at Europe, high North Asian diesel exports.

26 March 2024

TA Arb still has some widening to go with US exports running unsustainably high and Europe still highly incentivised to produce max gasoline

21 March 2024

Strong backwardation holds in Europe but only in the prompt, Asia well supplied while US faces challenging Q2

20 March 2024

Increasing diesel supply, poor demand and the end of European turnarounds in April leads to a bearish view on both diesel and jet globally

19 March 2024

European component pricing opening E10 blend margin in first step towards wider Q2 TA Arb, with plenty of support across the Atlantic to strengthen the RBOB complex

14 March 2024

Backwardation continues to exert pressure in a European market that is displaying increasing blending margins

13 March 2024

Asia Pacific gasoil is weak, ME arbs point West, some surprising strength in the US whilst jet shows initials sign of recovery

12 March 2024

April E/W gasoline to bottom out as Asian gasoil/gasoline short emerges; Q2 TA to widen as EBOB nears ceiling, RBOB bulls eye summer demand

7 March 2024

Asian market gains momentum for Q2 on surging petrochemical demand; European blending challenges in lower gas-nap and rising aromatic components

6 March 2024

European and Asian diesel markets exhibit more weakness than the US whilst jet recovery is unlikely until the end of April

5 March 2024

Returning AG gasoline supply challenging Singapore’s competitiveness; lacklustre US demand remains main risk to narrow T/A arb

29 February 2024

European market continues to hit new highs on rising petrochemical demand, but gas-nap suggests gasoline demand could have already peaked

28 February 2024

Diesel market continues to come off its highs as strong European pull potentially unsustainable

27 February 2024

Europe strong but room to the upside limited as supply should begin to ramp up

22 February 2024

Asia leads the uptrend and recent market movements suggest that a bottom has been reached

21 February 2024

Increased marginal diesel resupply to Europe as its maintenance period really begins to start

20 February 2024

Asia softens as EBOB spreads poised to rip higher in the coming weeks

15 February 2024

Europe shows first signs of weakening despite higher petrochemical demand, while Asia keeps arb closed

14 February 2024

Europe exhibits a need for diesel resupply, that both US and Asian origin barrels need to price to fill

13 February 2024

Spring pricing is arriving early as last year’s quality issues look set to repeat

8 February 2024

Supply issues, gas-nap, and strong US market drive naphtha into strong backwardation, tightening Q1 outlook

7 February 2024

An extremely bullish, but warranted, sentiment prevails in Atlantic Basin diesel, though less so in Asia Pacific and global jet

6 February 2024

Prompt RBOB arb nearly open but Q2 has further to go with Europe starting to look cheap

1 February 2024

E/W cools down after overreacting to attack on the Marin Luanda and facilities in Ust Luga and Tuapse; will current values be enough to pay for Asian arb needs?

31 January 2024

Atlantic Basin, especially Europe, appears bullish diesel whilst Asia Pacific bearish, also for jet

30 January 2024

Tightness might be difficult to sustain in the short-run but Q2 shaping up strong

25 January 2024

Asian market continues to rise as Cape of Good Hope alternative materialises, while gasoline demand keeps pushing for blending naphtha in Europe and Asia

24 January 2024

GO E/W and HOGO move to resupply Europe, no reason to believe that this will end in the short term

23 January 2024

EBOB rally still has legs in the short term

18 January 2024

Naphtha market collapse in Asia due to urgency to cover the lack of Middle East product

17 January 2024

Increasing Chinese distillate exports and continuing Red Sea issues, the GO E/W poised to widen further

16 January 2024

PADD-3 needs to price to export once more if it avoids another freeze-off, with European competition strong into the East as Atlantic Basin pricing points to soft demand

11 January 2024

Balances keep tight and backwardation steepens, but the bottom looks close and US points to more exports in the coming weeks

10 January 2024

Cracks and spreads exhibit gains with continuing low stocks in Singapore, ARA and NY pricing centres

9 January 2024

Narrowing gas-nap shuts TA arb, but US complex should pick up as we move through Q1

5 January 2024

The New Year suggests a softer market as the East is set to pull less than December highs

4 January 2024

Projected low Chinese diesel exports, Middle Eastern arbs pointing East and low Atlantic Basin stocks; bullish signs in global distillates manifest

3 January 2024

Little change into the New Year but supply constraints and robust demand should keep market well supported

27 December 2023

2024 Market Outlook

21 December 2023

Asia keep pushing for more barrels but the end of Q1 looks less tight

20 December 2023

Red Sea issues uplifts spreads and cracks but this appears a little overdone!

19 December 2023

Red Sea impact remains minimal so far, with US length still dominating

18 December 2023

Market Commentary Special: Navigating declining freight rates and demurrage in the Panama Canal

14 December 2023

Asia market pushing for more arb supply while Europe shows initial signs of not following the trend

13 December 2023

ME diesel arbs point to Singapore, whilst the USGC continues to price to export to the USAC and Europe

12 December 2023

US PADD-3 pricing gets desperate as Houston prices into the world

7 December 2023

Asian naphtha rally heats up Europe, but fundamentals still questionable going forward

6 December 2023

Asia Pacific focuses on Jet, Europe Winter Specs whilst US MR freights continue to roof

5 December 2023

USGC keeps pricing to export but an RBOB rebound remains on the cards

30 November 2023

Asian bullishness drags Europe higher, but some supports still to reverse

29 November 2023

Asia Pacific gasoil weakness continues, jet takes front stage, US HO strength shows no signs of slowing

28 November 2023

Market lacking direction as regional disparities level out and hints of AG tightness emerge

23 November 2023

Prompt optimism continues but early signs of a correction emerge in Asia

22 November 2023

Pockets of gasoil strength in the Atlantic Basin but the general trend continues to point negative

21 November 2023

USGC pushing barrels out of the region offering opportunities to snap up winter bargains

16 November 2023

Cracks and spreads soar, stronger NY market, but blending demand support is set to fade

15 November 2023

Asian and European generally weaker but some pricing centre risk remains in the USAC

14 November 2023

EBOB rally still has legs in the short term

9 November 2023

Brent collapse boosts naphtha cracks while Panama delays impact Asian propane-nap spreads and eastbound arb prospects

8 November 2023

Strong signs of global gasoil weakness manifesting as 2024 WCI arbs point East

7 November 2023

ARA barrels looking increasingly for outlet to the East, as EoS market strengthens despite maintenance coming to a close

2 November 2023

Crack rebound looks overdone on weak fundamentals outlook as physical premiums remain sluggish

1 November 2023

Low ARA stocks widen the East/West as cracks remain seasonally high

31 October 2023

EBOB hangs on but plummeting Houston market is a red flag

27 October 2023

Timespreads plummeting in a weak market while E/W after big spike on geopolitical risk. Limited support from gasoline blending where octane values pull heavy naphtha premiums

26 October 2023

West Coast India lands best into Singapore whilst Europe pulls more from the US Gulf Coast

24 October 2023

Gasoline’s rebound has run its course amid challenging winter fundamentals

19 October 2023

Cracks under pressure from strong crude, cheap propane, but rebounding gasoline helps take bearish edge off of Q4

18 October 2023

Closed arbs into Europe appear unsustainable, with USGC and AG premiums softening

17 October 2023

Gasoline market settles into a Q4 rhythm despite ongoing AG disruption

13 October 2023

Spreads tumble though Asia remains in backwardation, Gas-Nap narrows as a potential demand side bright spot amid RBOB weakness

11 October 2023

Bearish sentiment creeps into gasoil complex as European arbs close but WAF opportunities present themselves

10 October 2023

Gasoline cracks and spreads settling in for a more realistic winter following an explosive summer

6 October 2023

Weak gasoline adds bearish pressure to naphtha demand for blending while E/W collapses after reaching $10/mt

4 October 2023

As the East/West narrows West Coast India exports point to Singapore

3 October 2023

EBOB retreat was overdue, but now looks overdone

28 September 2023

NYH blenders are increasing premiums in an effort to source products from a robust Europe in the physical market, despite a weaker trend on paper

27 September 2023

HOGOs narrow steeply, all arbs into Europe appear closed whilst Singapore prices up; reflected in slight narrowing of the East West

26 September 2023

European physical market moves higher despite sliding cracks, spreads as market signals prompt strength and weaker winter expectations

22 September 2023

Europe leads the strength on the naphtha market while Asia pushes E/W as both compete for Mediterranean barrels

21 September 2023

European strength briefly opens the TA arb whilst Chinese gasoil and Russian diesel export ban weighs on the East/West

20 September 2023

Supply constraints in US and AG helping strengthen ARA market

14 September 2023

US strength set to reverse flows in the prompt as NYH pulls European volumes and USGC shuts export avenues

13 September 2023

Europe receives large Eastern flow, whilst global cracks and spreads move up on refinery and hurricane fears

12 September 2023

Resurgent European screen belies easing physical market

7 September 2023

Asia holds on while Europe faces a challenging Q4 for open-spec naphtha

6 September 2023

Lowest ARA gasoil stocks this year, E/W to reverse recent narrowing as WCI barrels, on paper, point to Singapore

5 September 2023

Atlantic Basin support eroding as focus shifts to EoS in Q4

31 August 2023

Contango on the horizon as pricing turns to Q4 challenges

30 August 2023

US diesel tightness further contributes to E/W widening as 3rd Chinese export quotas announced

29 August 2023

European tightness continues to drive market, exposing PADD-1 into Q4 and providing support to the East of Suez market

24 August 2023

Panama Canal demurrage leads to an unbalanced heavy market

23 August 2023

Global cracks rebound, Middle Eastern arbs in high demand whilst USGC arbs closed

22 August 2023

European strength continues to dominate, offering winter strength to Asian markets

18 August 2023

Backwardation softens as Russian flows to Asia pick up through August

17 August 2023

European strength filtering down the curve as winter brings only slight respite

16 August 2023

Global cracks decrease despite low stocks and general bullish sentiment whilst East of Suez arbs point West

11 August 2023

East of Suez arbs point to Europe, transatlantic arb closed, will this be enough to dampen Q4 spreads?

10 August 2023

The naphtha market extends its summer gains with Asia continuing to lead the way

8 August 2023

Is this the end of the summer bull party?

3 August 2023

Resurgent Asian demand drives the world to backwardation

2 August 2023

Q4 ULSD arbs into Europe deeply closed despite low stocks, reduced runs and no clear source of resupply, Q4 E/W too narrow?

31 July 2023

Physical market remains tight globally as high octane component premiums reach new heights

26 July 2023

Global distillate cracks strong on net bullish paper positions, extremely low stock environment

24 July 2023

Octane crunch continues in ARA as gasoline premium over naphtha reaches record levels

19 July 2023

USGC supply dominates an exacerbated European short, WCI primary for Singapore, as refinery issues cut supply in the European continent

17 July 2023

Summer crunch building steadily

12 July 2023

All arbs including USGC and AG/WCI point to Europe as regional refinery issues continue to take their toll

10 July 2023

Europe softens as US remains supported and naphtha begins to show potential for recovery

5 July 2023

Low ULSD inventory in US/Europe but also low demand, AG ULSD arbs continue to point West

3 July 2023

PADD-1 tightness bolsters Atlantic mogas market, AG barrels looking to take advantage

28 June 2023

Signs of ULSD tightness in Europe, pressure on Singapore ULSD as South Korean refineries return from maintenance

26 June 2023

Is this another buy the dip moment?

21 June 2023

Atlantic Basin strength on the back of ULSD tightness, AG/WCI arbs point to Europe

20 June 2023

Strong gasoline or weak naphtha?

14 June 2023

Strength exhibited in the global distillate market, all markets move into backwardation

12 June 2023

Prompt TA arb re-opens on wider gas-nap whilst AG discounts return to challenge Atlantic Basin destinations

8 June 2023

The attention of the ULSD market turns to Europe, as regional strength attracts arbs

5 June 2023

Ceiling reached as weak naphtha provides anchor to gasoline complex

31 May 2023

Diesel: Positive ULSD outlook for Europe on the back of closed arbs despite continuing macro demand worries

30 May 2023

Widening gas-nap spreads opening up blend opportunities in Houston

24 May 2023

Diesel market lacking direction, but some notes for cautious optimism looking ahead

23 May 2023

Summer gasoline bullish momentum doesn’t want to pause

17 May 2023

Europe full up on diesel as prompt Middle East barrels look East

15 May 2023

Positive blend margins and soft pull on European export barrels put ceiling on gasoline complex

12 May 2023

On Demand Webinar: Fuelling Growth: Capacity Updates, China Recovery, and Jet Upside in the Distillate Market

10 May 2023

Diesel cracks rally on the back of crude selling

8 May 2023

Softening blendstock premiums keeping Houston exports attractive, compensating for softer US demand

4 May 2023

ARA barrels remain both sought after and affordable

3 May 2023

All arbs point to Asia as recession fears loom

26 April 2023

E/W narrows; bullish Singapore & Global Demand outlook poor; bearish cracks

25 April 2023

Blending off the menu as ARA appreciates

19 April 2023

Global cracks continue their fall as USGC diesel faces heavy global competition into LatAm

18 April 2023

TA arb dynamics pointing to potential blend opportunities in ARA

12 April 2023

Economic slowdown, large EoS arrivals and falling cracks/spreads paint negative picture for European diesel complex

5 April 2023

Surprise OPEC crude production cut and signs of recession weigh heavily on global diesel cracks

4 April 2023

Negative blend margins causing continued backwardation… but for how long?

29 March 2023

ICE GO Spreads remain highly backward as French refinery and port strikes intensify

27 March 2023

Short and mid-term consequences of the French strike

22 March 2023

French refineries move into 15th day of strike action

21 March 2023

Bearish macro… bullish fundamentals

16 March 2023

Flat-price collapse aside, diesel markets struggling to show any strong direction

13 March 2023

Market looking for the next move

6 March 2023

Prompt European strength continues but gas-nap remains wide

27 February 2023

Europe: Bullish signals of an explosive March

23 February 2023

Barrels being pushed into Rotterdam in the prompt as Russian displacement begins

20 February 2023

Gasoline market at the crossroads

15 February 2023

Market likely at a bottom as new dynamics being established

10 February 2023

Damp squib sanctions bring sell-off, continued status quo – for now

7 February 2023

Market coming off hard, but European Mogas comparatively well-supported

1 February 2023

Wind blown from the sails as Europe remains well supplied

30 January 2023

Bullish overtones continue as gasoline market looks to spring

26 January 2023

Timespreads too steep, arb spreads too narrow

24 January 2023

No one wants to be short

18 January 2023

First glimmers of a return to European diesel pull

11 January 2023

Arbs into Europe close fully as E/W narrows

9 January 2023

Mixed feelings from Europe

5 January 2023

Europe not pulling hard despite upcoming Russian product sanctions

3 January 2023

Year-end European rally… can it be sustained?

20 December 2022

Everything seems conveniently priced for Christmas

14 December 2022

First signs of market tightness already reappearing in Europe

13 December 2022

West continues to be under pressure but East firming up

9 December 2022

USGC Arbs barely workable transatlantic but applying pressure on EoS pricing

5 December 2022

USGC: The cheapest source of supply worldwide

15 November 2022

Winter Is Finally Coming: Market Commentary

1 November 2022

East Of Suez Remains Pressured As Atlantic Basin Moves Beyond Covid

25 October 2022

AG Barrels Price Globally, But Not Available To Everyone

17 October 2022

Something’s Gotta Give

28 September 2022

Improving Ebob Cracks Justified As Usgc Focuses Closer To Home

20 September 2022

Not All Open Arbs Mean Volumes Will Flow

12 September 2022

Market Commentary: Ebob Market Supported For Now

5 September 2022

Light Ends Race To The Bottom

17 September 2021

An Interview With Stefano Oliani From Eni Trade & Biofuels On Gasoline Trading

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