HUNGRY EAST AND GULF COAST REGIONS. U.S. DEMAND CONCERNS EASE THE DATA PARTLY QUELLED CONCERNS THAT TIGHTER U.S. MONETARY POLICY COULD DAMPEN OIL CONSUMPTION IN THE WORLD'S TOP OIL USER, ALTHOUGH THE PICTURE IS DIFFERENT FOR OTHER BIG CONSUMERS. IN JAPAN, THE WORLD'S THIRD LARGEST OIL USER, CRUDE IMPORTS IN MAY PLUNGED BY MORE THAN A QUARTER FROM APRIL, TO THEIR LOWEST LEVEL IN TWO YEARS, AS REFINERS SHUT DOWN FOR HEAVY SPRING MAINTENANCE, GOVERNMENT DATA SHOWED. WEST AFRICAN CRUDE SALES TO ASIA FOR JULY LOADING DROPPED TO THEIR LOWEST LEVELS IN NEARLY A YEAR AS CHINESE REFINERS LOOKED TO REDUCE STOCK LEVELS AFTER DEMAND FAILED TO MEET EXPECTATIONS, TRADERS SAID. THE DEMAND-SUPPLY EQUATION REMAINS FRAGILE AND PRICES HAVE HELD IN A $68-73 BAND FOR MORE THAN SIX WEEKS, RESISTING MUCH SHARPER FALLS IN OTHER COMMODITY MARKETS AS OIL-SPECIFIC GEOPOLITICAL CONCERNS LIMIT THE IMPULSE TO SELL.
