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?
    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?
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    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?

    01 February 2024

    In our latest naphtha market commentary:
    > The loss of $10/mt in the E/W in the last three days leaves the spread at $22/mt for the March contract 
    > ​European premiums rebounded, especially for OSN in NWE while Brazil emerges as a short-term alternative for European barrels
    > ​Asian propane-naphtha cracks rebound from five-year lows, pointing to a possible increase in naphtha consumption for flexi-crackers during March​
    > The US continues to attract heavy naphtha from Europe due to strength of physical premiums in NYH, pushing TC14 higher 
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