Gasoil inflows into Indonesia rose 97.43% on a year on year basis, the data showed.

The delivered marine fuel bunker premiums in Zhoushan to Singapore delivered bunker had widened to an all-time high of $45/mt over May 10-12 for the first time since Jan. 23, 2020, S&P Global data showed.

Singapore's fuel oil imports stood at 938,864 mt in the week to May 25, over double 391,979 mt seen in the previous week, the data showed.

In its latest report released May 27, the company kept the volume unchanged, with exports for January-April 2023 at 1.5 million b/d each.

Mexican state Pemex shut units at its Salinas Cruz, Oaxaca, refinery after a 5.5 magnitude earthquake May 25 a source related to PEMEX operations said to S&P Global Commodity Insights on May 26.

Total middle distillate stocks continued hover around historically low levels in the week, with recovering regional demand for both jet fuel and gasoil providing sufficient outlets and leaving inventory levels lean.

The main export destination was Indonesia with bitumen volumes of 11,969 mt, followed by China at 11,637 mt, the data showed.

Steeply backwardated markets discourage arbitrages because of the risk of having to price against a further out month in the event of vessel delay.