In our latest gasoline market commentary:
> Gasoline E/W spread to remain in single-digit territory amid liquidity drop, lack of urgency for barrels in Atlantic Basin
> Asian aromatics prices’ recent bull run to be quelled by returning steam cracker production by mid-May
> EBOB still primed for upside from Russian refinery drone strikes, unexpected outages, crack to outperform diesel again
> Substantial EBOB upticks to be capped by dwindling number of destinations pointing towards ARA for resupply
> RBOB should widen TA amid high exports and low PADD 3 stocks, despite seasonal US demand lull
> NYH-ARA inching open in rapidly closing April window; opportunity for May arbs should refinery maintenance get extended, Atlantic seaboard demand outperforms
