In our latest gasoline market commentary:
> Rising freight costs and decreasing TA arb close the arbitrage options for RBOB from Europe to the US
> A spike in blending costs in the prompt also makes European barrels more expensive, mirroring the outlook for new export opportunities in the coming months
> Changes also affect East of Suez, with AG clearly establishing itself as the most economical barrel in Kenya, Tanzania, and Indonesia, while SG targets Australia
> Downward corrections in cracks and spreads across all markets, losing part of the gains made in the last fortnight of June, due to forecasts of loosening balance. Hyperactive Hurricane season remains the main bullish focus in the short term
