In our latest gasoline market commentary:
> Recent surge in RBOB Arb due to wider gas-nap spreads creates opportunities for blenders and is expected to increase demand for MR tankers
> Opening of E10 blending margin, coupled with rising gas-nap prices, likely to boost reformate and high-octane component premiums
> Potential for European high octane premiums to surpass historic ranges following increase in gas-nap spreads
> European component premiums remain elevated, yet underlying paper EBOB levels appear high compared to US and Asian markets; Atlantic Basin market still dominated by USGC-origin arbs
> CARBOB arbs pointing towards Europe due to blend complexities; softening premiums and downturns in Sing92 spreads suggest further market slide
