April E/W gasoline to bottom out as Asian gasoil/gasoline short emerges; Q2 TA to widen as EBOB nears ceiling, RBOB bulls eye summer demand
    April E/W gasoline to bottom out as Asian gasoil/gasoline short emerges; Q2 TA to widen as EBOB nears ceiling, RBOB bulls eye summer demand
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    April E/W gasoline to bottom out as Asian gasoil/gasoline short emerges; Q2 TA to widen as EBOB nears ceiling, RBOB bulls eye summer demand

    12 March 2024

    In our latest gasoline market commentary:
    > April E/W gasoline finding a bottom as Middle East barrels continue to challenge Singapore’s regional competitiveness
    > Alternative Atlantic Basin outlets yet to emerge for East of Suez barrels in Q2
    > Near-term Asian strength a stark contrast to softer gasoil; product spread emerging as profitable short
    > Returning PADD 3 refinery supply could act as ceiling amid rife RBOB bullishness even as regional stocks remain historically low
    > Price upside for EBOB limited through August as regional refineries finish maintenance; Q2 T/A to widen
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