In our latest gasoline market commentary:
> TA Arb remains negative when viewed net-RVO, and has closed prompt blender margins, but some flows will remain and paper TA can widen again with European gas-nap narrowing
> A small correction in EBOB over the last couple of days has been enough to start countering pressure from EoS barrels into WAF, but should be monitored closely
> A narrowing in the E/W and an uptick in AG component pricing has closed the AG opportunity into WAF, but we would expect this to be a recurring feature of the summer months as the AG looks to push volumes west
> In Asia, ARA has emerged as the cheapest source of supply into Australia for mid-June arrival thanks to recent gains in Singapore component premiums and softening freight prices out of Europe
