European Gasoline Daily Market Analysis / European gasoline prices surge $102.50/mt / Mediterranean supply constraints persist / ARA inventories climb 1.92% to 902,000 mt

European gasoline markets rallied Sept. 10 as strengthening crude futures and persistent tightness in the Mediterranean supported values. Market participants pointed to delayed maintenance across the basin and ongoing supply constraints, despite signs of improving inventories in Northwest Europe. FOB ARA gasoline barges at $1,268.25/metric ton on Sept. 10, up $102.50/mt day over day. The equivalent cash/M1 differential rose $47.25/mt day over day to $157.50/mt. Market participants described a divergence between the Mediterranean and Northwest European markets after recent weakness in Eurobob values drove a sharp move in the Med-North spread. A European trader said the widening spread was largely driven by Eurobob weakness rather than any material change in Mediterranean fundamentals, adding that supply in the Mediterranean remained limited. The trader said Northwest European refineries had been exporting more...