In our latest distillate market commentary:
> AG/WCI arbs largely continue to point East whilst the USGC arb is open into the MED and Latin America
> Both the GO E/W (but not enough to point arbs West) and HOGO (only freight is keeping these arbs open to Europe really) have widened
> Both the US and China have lowered interest rates in the past week in efforts to boost their respective economies
> Neutral outlook for Singapore diesel whilst bullish ICE GO and HO complexes
