European Gasoline Daily Market Analysis / Gasoline prices drop amid ample supply: sources / Export arbitrage to US may reopen amid Eurobob fall

European gasoline prices fell sharply on Sept. 9, pressured by a steep selloff in prompt Eurobob swaps as market participants pointed to healthy regional supply, robust refinery runs and signs that export arbitrage opportunities could reopen. the FOB AR gasoline barge down $98/metric ton day over day at $1,165.75/mt, with the equivalent cash/M1 differential at $110.25/mt, down $84.75/mt day over day. Sources cited ample supply despite ongoing logistical challenges. A Europe-based trader said low Rhine water levels continued to complicate inland deliveries into the Amsterdam-Rotterdam-Antwerp region, but described naphtha supply as adequate and “not that tight.” Meanwhile, a Europe-based analyst said gasoline blendstocks remained scarce despite recent stock builds, with tightness particularly evident in the reformate and MTBE markets. The analyst said refiners were retaining components rather than selling into...