Singapore’s Fuel-Oil Stockpiles Fall From Highest in Seven Weeks

Singapore’s stockpiles of fuel oil fell from the highest level in seven weeks, 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 3 percent to 19.75 million barrels in the week ended June 6, International Enterprise Singapore said in an e-mailed statement today. Last week, supplies were at the highest level since April 11.

Stockpiles of light distillates such as naphtha, reformate and gasoline, rose 14 percent to 10.01 million barrels. Middle distillates, a category that includes gasoil and kerosene, increased 2.7 percent to 8.97 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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