Sparta Commodities

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

In our latest distillate market commentary:

> All arbs into Europe appear closed until Q2 2024

27 September 2023

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

In our latest gasoline market commentary:

26 September 2023

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

In our latest naphtha market commentary:

> Europe leaves behind negative physical premiums, pulling more MED OSN barrels and increasing spreads and cracks on a stronger market

22 September 2023

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

In our latest distillate market commentary:

> TA arb briefly opened this week whilst AG/WCI arbs continue to point West

21 September 2023

Resurgent European screen belies easing physical market

In our latest gasoline market commentary:

20 September 2023

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

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

14 September 2023

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

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

14 September 2023

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

In our latest distillate market commentary:

> Red Sea, AG and WCI arbs point firmly to Europe, with all appearing open at the very front

13 September 2023

Resurgent European screen belies easing physical market

In our latest gasoline market commentary:

12 September 2023

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

In our latest naphtha market commentary:

> Prompt spread in Europe and Asia has flipped to contango after a bullish summer supported by gasoline strength

7 September 2023