In our latest gasoline market commentary:
> TA arb inching towards open through Q4 but should hold around current levels
> Market structure has been softening and is now returning towards long-term seasonal averages, but can surprise to the upside going forward
> With focus shifted heavily to distillates now, there are few surprises from a gasoline market settling into its usual winter slumber
> The return of AG supply in the 2nd half of the quarter may weigh on the Singapore market in particular
