Lanka IOC Cancels Tender Amid Market Shifts

Asia and Middle Eastern Gasoline Daily Market Analysis / Asian supplies could be buoyed by gasoline from Europe / Lanka IOC cancels tender for combination cargo

Jun 02, 2026

The Asian gasoline market complex softened March 26, amid continued hopes that a ceasefire between the US and Iran may materialize, inflows from Europe and a narrowing US-RBOB Brent crack. However, SPI Asset Management’s managing partner, Stephen Innes, wrote in a note on March 26 that the geopolitical risk premium is not being priced out, “it is being actively managed. This is not a market transitioning to peace; it is a market recalibrating how it carries risk,” previously reported. A Singapore-based trader said gasoline cracks might be coming off on profit-taking, adding that profits were “sizeable.” Some market participants also expect regional supplies could be supported by imports from Europe, although likely at a higher premium. “It will be very easy (for Europe to supply Asia with gasoline), but can...

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