Singapore Light-Distillate Stockpiles Advance Most in 12 Weeks
Onshore stockpiles including naphtha, gasoline and reformate rose 1.17 million barrels, or 14 percent, to 9.45 million in the seven days to yesterday, International Enterprise Singapore said in an e-mailed statement. That’s the biggest gain since the week ended June 13.
Middle-distillate inventories including gasoil, or diesel, and kerosene dropped 622,000 barrels, or 6.5 percent, to 8.98 million, the ministry’s data showed. Supplies fell to the lowest in five weeks.
Stockpiles of residual fuels including fuel oil and low- sulfur waxy residue and excluding bitumen were up 1.13 million barrels, or 6.5 percent, at 18.4 million, according to the data. That’s a four-week high.
The trade ministry surveys refiners, traders and storage terminals on a voluntary basis. The results may exclude offshore storage capacity, International Enterprise said.
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