Singapore Fuel Oil Stockpiles Fall to the Lowest in Three Months

Singapore stockpiles of fuel oil fell to the lowest level in three months, according to data from a unit of the Ministry of Trade and Industry.

Onshore inventories of residues, a category that includes fuel oil and low-sulfur waxy residue and excludes bitumen, dropped 21 percent to 16.39 million barrels in the week ended April 18, International Enterprise Singapore said in an e-mailed statement today. Supplies are at the lowest level since Jan. 18.

Stockpiles of light distillates such as naphtha, reformate and gasoline, fell 0.6 percent to 10.72 million barrels. Middle distillates, a category that includes gasoil and kerosene, dropped 1.6 percent to 10.82 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.

To contact the reporter on this story: Ann Koh in Singapore at akoh15@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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