#1
Atlantic Basin Distillates
Drivers
- ARA stocks
- US exports
- Refinery utilization
Atlantic Basin distillate balances remain supportive, with US exports clearing into NWE on a constructive freight backdrop.
Confidence69%
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NetbackBeacon turns physical flows, freight curves and geopolitical risk into a single netback view across LNG, distillates and crude — so your desk sees the window before the broker does.
Live market snapshotrefreshed · indicative
- Brent–WTI+3.18$/bbl+0.42
- TTF Front32.45€/MWh-1.10
- JKM Spot13.20$/MMBtu+0.35
- TD3CWS 71AG-China+4 pts
- Hormuz Risk62/100Watch
- RBOB Crack27.8$/bbl-0.6
Today's market story
Daily market narrative
96/100
Confidence score
Physical balances remain tighter than geopolitical headlines suggest. US crude inventories continue to draw while refinery utilization stays elevated. Distillate balances remain the strongest segment and freight costs continue to support Atlantic Basin flows. Brent–WTI at +3.18 keeps US exports competitive while TD3C is +4 WS.
Trade implications
- BullishDistillates
- NeutralCrude
- BullishFreight
- BullishLNG
Internal platform confidence derived from how consistently the underlying signals point in the same direction.Updated: —
Decision support
Top opportunities
Open
#2
Asian LNG
Drivers
- JKM strength
- Seasonal demand
- Shipping conditions
Asia remains the preferred destination for flexible LNG cargoes while JKM strength and seasonal demand persist.
Confidence65%
#3
Middle East Crude
Drivers
- TD3C
- Chinese imports
- Freight conditions
Freight inflation is reducing upside for Middle East crude exporters despite stable Chinese demand.
Confidence45%
Today's signal
Top netback opportunities
ULSDHigh
USGC → NWE
+$3.42/bbl
Freight softening + ARA stock draw widens window.
LNGMedium
USGC LNG → JKM
+$1.95/MMBtu
Asian premium over TTF holds despite mild EU winter.
Crude (VLCC)Medium
Ras Tanura → Ningbo
+$0.88/bbl
TD3C firming; Chinese refiner buying re-emerging.
Live maps
Global energy flows, in motion
Tanker flows
1,284 active
LNG carriers
612 underway
Chokepoints
3 elevated
Congestion
Suez +12%
Scenario lab
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Reading
Market intelligence articles
Why USGC ULSD keeps clearing into NWE
Refinery turnarounds and weak diesel cracks in Asia keep transatlantic flows the path of least resistance.
Distillates · 6 min read
JKM premium: structural or cyclical?
Disentangling weather, contracted volumes and corridor freight in the post-2022 LNG market.
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