In our latest gasoline market commentary:
> EoS is reacting most strongly to Red Sea shipping disruptions, but upside appears limited for now
> E10 blend margins wide open through the remainder of Q1 on wide gas-nap spreads and some comparative softening also of higher octane component premiums
> TA arb, by contrast, remains firmly shut through Q1 but is picking up into Q2. Prompt TA spread likely to turn negative in the short term however
