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GASOLINE: Gasoline Strength Emerging in the US and Asia: Sparta

GASOLINE
BulletEnergy BulletsCommodities

Gasoline market strength is emerging in the US and Asia, while the European market is being influenced by developments from both East and West, according to Sparta Commodities.

  • Tightness in the East will be driven by low gasoline exports from China into 2025, raising premiums for semi-finished grades from India, Korea, and Taiwan.
  • ARA exports looking East provide a healthy floor and some potential upside from current market levels.
  • RBOB spreads are supported by falling PADD 1 inventories despite prices easing yesterday.
  • EIA data showed PADD 1 gasoline stocks have fallen from above the seasonal average at the start of October to 8.7% below in the week to Nov. 22 and near 2022 and 2023 levels for this time of year.
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Gasoline market strength is emerging in the US and Asia, while the European market is being influenced by developments from both East and West, according to Sparta Commodities.

  • Tightness in the East will be driven by low gasoline exports from China into 2025, raising premiums for semi-finished grades from India, Korea, and Taiwan.
  • ARA exports looking East provide a healthy floor and some potential upside from current market levels.
  • RBOB spreads are supported by falling PADD 1 inventories despite prices easing yesterday.
  • EIA data showed PADD 1 gasoline stocks have fallen from above the seasonal average at the start of October to 8.7% below in the week to Nov. 22 and near 2022 and 2023 levels for this time of year.