The CPP market has experienced significant shifts as several arbitrage windows have opened, particularly between the US Gulf and Northwest Europe.
Notably, the arbitrage for diesel from the US Gulf to Northwest Europe is open, while flows from the US Gulf to the Med have hit multi-month highs so far in May. Despite closed arbitrage opportunities for gasoline from Northwest Europe to US Atlantic Coast, other routes remain lucrative, indicating a dynamic trading environment in refined products.
Geopolitical tensions and demand fluctuations continue to influence arbitrage profitability across regions.