Singapore’s Residual Fuel Stockpiles Rise to Three-Week High
Singapore’s stockpiles of residual fuels rose to the highest level in three 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, increased 9.5 percent to 19.6 million barrels in the week ended yesterday, International Enterprise Singapore, a unit of the ministry, said today in an e-mailed statement. Supplies are at the highest level since Sept. 19.
Stockpiles of light distillates such as naphtha, reformate and gasoline fell 3 percent to 10.1 million barrels. Middle distillates such as gasoil and kerosene rose 3.2 percent to 9.4 million barrels, the most since Sept. 12.
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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