Lowest ARA gasoil stocks this year, E/W to reverse recent narrowing as WCI barrels, on paper, point to Singapore

In our latest distillate market commentary:

> WCI arbs, on the back of a sharply narrowing E/W, now point at Singapore 

> October's E/W narrowed from -$41 to -$29.25 /mt over the past week 

> China's weak internal demand points to more exports and less imports 

> ​Europe, and the Atlantic basin in general, need diesel as we approach winter and this is set to reverse the recent narrowing of the E/W