USGC supply dominates an exacerbated European short, WCI primary for Singapore, as refinery issues cut supply in the European Continent.
    USGC supply dominates an exacerbated European short, WCI primary for Singapore, as refinery issues cut supply in the European Continent.
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    USGC supply dominates an exacerbated European short, WCI primary for Singapore, as refinery issues cut supply in the European Continent.

    19 July 2023

    In our latest distillate market commentary:

    > USGC arb most cost effective into Europe currently whilst WCI is into Singapore
    > MOPAG / SG10 spread at its narrowest level all year whilst the USGC diff is at its lowest
    > Saudi production cut leads to more bullish outlook for funds
    > Continuing pressure on USGC 10 diff vs HO and HOGOs to incentivise exports to Europe and Latam
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