Singapore Light-Distillate Stockpiles Advance Most in 12 Weeks

Light-distillate inventories in Singapore, Asia’s largest oil-trading and storage center, increased the most in 12 weeks, according to a unit of the Ministry of Trade and Industry.

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.

To contact the reporter on this story: Yee Kai Pin in Singapore at kyee13@bloomberg.net

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

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