Shrinking global inventories of the fuel and steady demand were supportive, with demand expected to gather pace in the coming summer months.
STOCKS
- Gasoil stocks held in the Amsterdam-Rotterdam-Antwerp (ARA) storage and refining hub fell by nearly 7 percent to a two-week low of 2.041 million tonnes, said Dutch consultancy PJK International.
- The drop in gasoil stocks came as imports into the region slowed while demand remained on the low side, PJK's Lars van Wageningen said.
- By contrast, jet fuel stocks in the ARA hub climbed 7 percent to 637,000 tonnes in the week to May 24, up from 593,000 tonnes in the previous week, the data showed.
- ARA gasoil stocks were 27 percent down from year-ago levels, while stocks of jet fuel were 21 percent lower.
- In Singapore, onshore gasoil and jet fuel stocks jumped 12.7 percent or 932,000 barrels to 8.265 million barrels in the week to May 23, the highest in four weeks, official data showed.
- Singapore middle distillates inventories were 43 percent down form a year ago.
- US distillate stockpiles, which include diesel and heating oil, fell last week by 1 million barrels, against expectations for a drop of 1.3 million barrels, EIA data showed.