Singapore’s Fuel-Oil Stockpiles Fall From Highest in Four Weeks
Onshore inventories of residues, a category that includes fuel oil and low-sulfur waxy residue and excludes bitumen, dropped 1.2 percent to 19.6 million barrels in the week ended Aug. 3, International Enterprise Singapore said in an e-mailed statement today. Supplies were at 19.9 million last week, the highest since June 29.
Stockpiles of middle distillates, including gasoil and kerosene, fell 7.9 percent to 13.4 million barrels. Light distillates such as naphtha, reformate and gasoline dropped 9.1 percent to 9.6 million barrels.
The trade ministry unit surveys refiners, oil companies and storage terminals on a voluntary basis. The results may exclude some offshore storage capacity, International Enterprise said.
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