Singapore’s Fuel-Oil Stockpiles Fall to Lowest in Four Weeks

Singapore’s stockpiles of fuel oil fell to the lowest level in four 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 1.8 percent to 19.24 million barrels in the week ended June 20, International Enterprise Singapore said in an e-mailed statement today. Supplies are at the lowest since the week ended May 23.

Stockpiles of light distillates such as naphtha, reformate and gasoline, fell 2 percent to 11.24 million barrels. Middle distillates, a category that includes gasoil and kerosene, dropped 4.2 percent to 8.94 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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