Sparta Commodities

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

In our latest crude market commentary:

10 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

In our latest naphtha market commentary:

6 June 2024

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

In our latest distillate market commentary:

5 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

In our latest gasoline market commentary:

4 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

In our latest crude market commentary:

3 June 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

In our latest naphtha market commentary:

30 May 2024

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

In our latest distillate market commentary:

29 May 2024

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

In our latest gasoline market commentary:

28 May 2024

All signs point to weakness in the oil market

In our latest crude market commentary:

27 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

In our latest naphtha market commentary:

24 May 2024