Current refined products arbitrage windows show a generally closed position for many trade routes, with gasoline arbitrages from Europe to the US emphatically closed as prices soar on the continent.
Conversely, diesel arbitrages are mixed as prices soar to record highs in both Europe and the US, impacting deltas significantly.
With no end to the war in the Middle East in sight - Trump has warned that it will probably continue past the midterms, while other expects it to last into next year- arbitrages are expected to continue fluctuating strongly week-by-week.