In our latest distillate market commentary:
> Jet arbs to Europe closed, as well as USGC TA diesel arbs to Europe, whilst AG/WCI arbs continue to point East
> Global diesel cracks gain in the previous week, EU and US spreads also
> Taiwan's Formosa Petrochemical Corp announce plans to cut CDU runs at its refinery into June. (This, however, is a reduction in its official plan, and not in comparison to May)
> Until we see these jet and diesel arbs reopen, it is difficult to not have a bullish view, more so in the EU than in the US and Asia
