In our latest naphtha market commentary:
> Arb to Asia remains open from MED despite E/W easing at the back of Q1 24
> Cracks have weakened, particularly in Europe, where we've witnessed the most significant drop since October
> Renewed blending demand with Gas-Nap back to $100/mt after rising $15/mt in one week
> RBOB/Nap and lower freight push to keep the arb open from NWE to NYH
