In our latest distillate market commentary:
> WCI arbs land best into Singapore whilst AG, WCI and USGC arbs open into Europe at the front
> Global cracks exhibit gains over the last week but in general there has been a downward trend since early October
> Singapore regrade continues its narrowing trend on the back of returning passenger numbers, USWC (West Coast) and Japan winter demand
> USGC diesel weakness continues
> Global strength in cracks were exhibited over the last week to reverse and then continue their downward trend after the short-term issues subside
