Key graphs of the week, as illustrated by our data dashboards.

Price Action

The strength in the Dated structure has been localised in the front due to which the Bal-Feb/Mar Dated spread rallied from $0.75/bbl on Jan 30 to $1.24/bbl on Feb 06.

Counterparty Data

The prompt 3.5% barges crack has witnessed substantial buy-side flows from trade houses and end users over the past week.

Despite its usual sell-side flow, the Q3’24 gasnaph saw buying flows of 1.2mbbls over the week from refiners and trade houses.

Market Positioning

The prompt TA arb remains skewed short overall, but the 7-day market trading split is currently at 60:40 long:short, highlighting the market adding length.

Refinery Margins

M1 refinery margins in both Europe and Asia rose by $1.70/bbl and $0.50/bbl, respectively, over the past week due to a weakened crude overarching weakness in products.

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