The opening table shows gasoline arbitrage open from Northwest Europe to the US Atlantic Coast and Asia to Mexico, while the Mediterranean–USAC route is firmly closed. Diesel and gasoil routes are broadly profitable, with exceptionally strong arbitrage from the Arab Gulf to NW Europe and Arab Gulf to the Mediterranean, even if the trades are currently non-existent.
Jet arbitrage is mixed, with AG–NW Europe open, but South Korea–USWC closed. Naphtha arbitrage is deeply negative on all observed routes, such as AG–Japan, reflecting structurally weak spreads and high freight.
Across gasoline markets, the report shows volatile but generally improving arbitrage conditions into the US Atlantic Coast. Mediterranean gasoline flows remain sporadic, with the arb mostly negative and trade flows often zero. The Singapore–Mexico gasoline arb is highly volatile, with freight and market structure driving sharp month‑to‑month reversals.
Diesel and gasoil markets show the strongest arbitrage signals in the entire dataset.