The short term appears decidedly bearish, but could Q3 global maintenance and somewhat improving demand be enough to turn around an ailing distillate market?

In our latest distillate market commentary:

> USGC diesel arb margins to Europe decrease despite reductions in freight

> Global diesel and jet spreads and cracks largely continue their decline

> Maintenance periods to start in the USGC, NWE, Asia and AG/WCI in September/October
> The short term remains bearish, but the distillate market should hit somewhat of a floor as Q3 maintenance and demand pick up