In our latest naphtha market commentary:
> A rise in physical premiums for heavy specs in NYH has opened the TA arb out of ARA, despite a solidly shut RBOB arb on the same route
> A rise in physical premiums for heavy specs in NYH has opened the TA arb out of ARA, despite a solidly shut RBOB arb on the same route
> With the Med market also strengthening just as the East eases, MED arbs to the Far East have shut leaving only AG barrels profitable into the East
> AG fob prices have been falling in recent weeks, helping to keep the arbs to the East just workable on an LR2
> The tightening in the US market is reflected also in the transportation fuels market, with a number of USGC facilities offline. This support is likely to wane as we move into Q4, freeing up European barrels to look East again
