Asia’s June crude imports rise to 22.18 million bpd as refined fuel supplies stay tight

Asia’s crude imports are projected at 22.18 million barrels per day in June, rebounding from May but still below pre-war levels. Refined product exports are seen at 9.20 million bpd, 13% under pre-war shipments, as inventories of diesel and gasoline continue to fall. In Singapore, gasoline is up 30.6% from Feb. 27 and jet fuel has gained 20.4%, while refining margins around $11.51 a barrel point to tight fuel supply. The premium in fuel prices is providing tangible support for crude and fuel-linked assets.