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"...simply will be directly proportional to NYM."

Sorry, but this is too simple a statement.
The other 2 widely quoted benchmarks, Brent and Dubai,
can have premiums and/or discounts over NYM or Dubai
has premium/discount over Brent quote. Supply and demand, freight rates , refinery configurations, regional demand for certain product streams, term versus spot deals: it all determines the premium/discount between NYM, Brent + Dubai at any moment in time. Your statement could be understood as a mathematical formula ( ..directly proportional..), which I disagree with.
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