In our latest distillate market commentary:
> The USGC TA arb to Europe remains closed on the back of high freight rates whilst AG arbs marginally turn back to Europe
> Global diesel cracks and spreads find a ceiling and even exhibit some losses after their recent period of gains. Jet diffs and spreads exhibit losses over the previous week
> A number of diesel VLCCs are currently pointing at Europe from the AG and Singapore regions
> Some strength to be found in Singapore diesel and perhaps overall the picture is bearish for global diesel. Jet to continue its recent losses
