European gasoline rebounds, but Q4 outlook does not point to further increases

In our latest gasoline market commentary:

> European gasoline market rebounds sharply, led by prompt timespreads, but export options do not look promising for Q4

> TA Arb widens and blending costs in ARA rise, making USGC exports to LATAM more competitive

> Atlantic Basin shifts, USGC overtakes Europe in key LATAM markets

> USGC and SING 92 export options gain appeal as European opportunities wane