"Exports were not affected," a source at Basra Oil Co. said.

ICS still remains concerned about continuing delays with the publication of the latest ISO Publicly Available Specification for low sulfur fuels.

Several ministers have signaled that an extension is likely, as oil prices have slumped on downbeat global economic forecasts.

Additional banks, including Asian banks, are also expected to embrace Poseidon Principles.

"The United States is prepared to do its part," Pompeo said.

Previously, the company halted orders for the grade at Kaohsiung for about a month due to tight availability.

Backwardation at the front of the Brent curve also strengthened as markets evaluated statements from Trump and Saudi Crown Prince Mohammed bin Salman

"Until such time as geopolitical tensions recede, Heidmar will exercise extreme caution when considering new contracts in the region," a company spokesman said.

The complex is targeting a 2024 completion date and "will be implemented by South Refineries Co.," JICA said in the statement.

" [Its]probably best to make most of [naphtha] feedstocks at home and from regional [East and South Asian] markets," a source said.

The 180 CST grade received additional support from tight cutter stocks, stronger demand for power utilities in Pakistan and Bangladesh, traders said.

Strong buying activity in the Platts Market on Close assessment process for 3.5% FOB Rotterdam barge has created a busy loading schedule for the final weeks of June in Rotterdam, though loading delays have fallen from earlier in the month, sources said.

An afternoon selloff pushed oil futures to settle just off session lows as economic growth concerns weighed on demand outlooks.

CE Delft expects to complete and publish the full study this summer.

"The longer-term implications for the tanker market are dependent on what happens next," Broekhuizen said.

The fuel oil arbitrage flow into Singapore over June was expected to be lower with supply tightening further in July, sources said.