Three of the world's biggest oil traders were at odds about where the oil price would be this time next year, with Vitol taking a bearish view while Gunvor and Trafigura stayed bullish.
South Korean and Chinese refiners have snapped up at least 5 million barrels of U.S. Mars crude loading in September, taking advantage of lower prices in recent weeks, industry sources said.
Exports of gasoline and blend stocks from Asia to the United States rebounded in May from April, including two rare shipments from India, to meet rising summer demand in the west, industry sources and analysts told Reuters.
Global oil trading companies are ramping up jet fuel exports from Asia to Europe and the United States, as widespread anti-coronavirus vaccinations and relatively lower infection rates allow commercial travel to resume faster in Western countries.
Singapore residual fuel oil inventories jumped 12% in the week to June 2, snapping three straight weeks of declines, as net import volumes rebounded, official data showed on Thursday.