In our latest gasoline market commentary:
> European gas-nap at seasonal historic highs is helping open opportunities for European blenders to price into export markets further afield
> Very low PADD-3 crude intake is helping ease supply overhang there, but stocksbuilds likely to return to pressure pricing soon
> Wide open E10 blend margins in ARA will help to keep a lid on the upside for EBOB, but export specs should start to provide competition for components soon
> The E/W gasoline spread has begun to widen sharply, as was foreseeable according to the data available in the Sparta platform – and it has further to go
> Australian importers should be looking as far afield as ARA for their resupply, with intra-Asian LR freight rates spiking and cheaper blend costs in ARA
