In our latest gasoline market commentary:
> High octane components premiums in particular have fallen off a cliff in the AG in recent weeks, bringing AG-origin barrels into direct competition in the Atlantic Basin
> European gasoline remains stagnant, and has further potential to the downside as competition ramps up from the East
> RBOB has shut the door completely to incremental volumes moving into PADD-1, with Houston-origin barrels maintaining their hold on LatAm destinations
> Demand indicators in the US remain unimpressive, and the arrivals following the TA Arb opening in early-April as well as an uptick in PADD-1 crude intake are keeping PADD-1 inventories healthy
