Singapore Fuel-Oil Inventories Rise to the Highest in Six Weeks

Singapore’s stockpiles of residues rose to the highest level in six weeks, according to data from the Ministry of Trade and Industry.

Onshore inventories of residues, a category that includes fuel oil and low-sulfur waxy residue and excludes bitumen, rose 5.5 percent to 19.98 million barrels in the week ended Sept. 19, International Enterprise Singapore, a unit of the ministry, said today in an e-mailed statement. That is the highest level since the week ended Aug. 7. Supplies gained for a fourth week as shipments from western countries rose in September.

Stockpiles of light distillates such as naphtha, reformate and gasoline declined 9.9 percent to 8.61 million barrels. Middle distillates, a category that includes gasoil and kerosene, dropped 2.6 percent to 9.24 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: Winnie Zhu in Singapore at wzhu4@bloomberg.net

To contact the editor responsible for this story: Mike Anderson at manderson34@bloomberg.net

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