In our latest gasoline market commentary:
> Gas-nap continuing at record high seasonal levels suggests there is little way out of this for now, and blenders may need to become more creative over the summer to allow these molecules into the pool
> Naphtha fundamentals remain poor – especially in Europe and with only small signs of life in Asia – and will remain an anchor on gasoline cracks for now
> Prompt arbs out of Europe remain confined to refinery barrels going TA and blenders competing for WAF or EC Canada cargoes
> In Asia, component premiums are trending sideways but any hints of run cuts on a weak distillate market could provide some life into the Sing92 complex
