Wed 24Oct2018: Gasoil breaks lower in line with Crude down to $695/Mt with backwardation to Nov/Apr widening again to $15.50/mt. RSI now back to a possible bounce levels at 55.85 but unlike Crude, gasoil has no broken the 200dma level. Crack margins for HO still at record high. US Biodiesel margins go even more negative despite improved BOHO levels but weak Biodiesel RINs value @32cpg still being pressured by the Ethanol RINs. IN EU RED RME goes to +505 in the spot market while Q4 offered at +435ish. RED FAME trading at 255 discount in Q4 while for Q1 2019, the spread is only 140 discount. Precipitation forecast for Europe looks a bit better for central and SouthEast Europe to improve Danube navigation but still rather dry to upper Rhineland. Brazil is bracing for decisive elections this coming week-end closing a bit weaker at 3.73R/$. China situation remains pretty much frozen at 6.94 while INR a bit improved at 73.36.