In our latest distillate market commentary:
> WCI arbs continue to favour East, whilst AG arbs favour the Med (not NWE) over East
> The USGC TA arb to Europe remains closed due largely to a widening HOGO swap
> Global diesel cracks and spreads are largely flat whilst jet exhibits gains
> Reports of Chinese run cuts due to poor refining margins and heavy maintenance there
> Neutral to bullish global diesel, whilst jet is to find a floor in the medium term
