Light distillates fell amid subdued demand. Jet fuel eased because of ample supplies, but regional demand supported gasoil crack spreads. Fuel oil refining margins rose because of a lack of on-specification bunker fuel supplies. Gasoline crack spreads narrowed, amid a difficult arbi- trage to the US. But some regional demand emerged, with Sri Lanka seeking supplies after a 12-13 day unplanned shut- down at its 50,000 b/d Kelaniya refinery. And a two-month shutdown at the 145,000 b/d Dung Quat refinery from mid- July is likely to boost Vietnamese product imports.
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