Singapore’s Light-Distillate Stockpiles Rise to Three-Month High
Singapore’s stockpiles of light distillates rose to the highest level in three months, according to data from the Ministry of Trade and Industry.
Onshore inventories of light distillates such as naphtha, reformate and gasoline increased 6.9 percent to 10.4 million barrels in the week ended Oct. 3, International Enterprise Singapore, a unit of the ministry, said today in an e-mailed statement. Supplies are at the highest level since July 4.
Stockpiles of residues, a category that includes fuel oil and low-sulfur waxy residue and excludes bitumen, fell 3.4 percent to 17.9 million barrels, the lowest in five weeks. Middle distillates such as gasoil and kerosene dropped 2.3 percent to 9.1 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.
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