Singapore’s Residual-Fuel Inventories Decline to 10-Week Low

Residual-fuel inventories in Singapore, Asia’s largest oil-trading and storage center, fell 2.7 percent to the lowest in 10 weeks, according to a unit of the Ministry of Trade and Industry.

Onshore stockpiles including fuel oil and low-sulfur waxy residue and excluding bitumen dropped 534,000 barrels to 19.5 million barrels in the seven days to yesterday, International Enterprise Singapore said today in an e-mailed statement. That’s the lowest level since the week ended Oct. 17.

Stockpiles of middle distillates including gasoil, or diesel, and kerosene rose 370,000 barrels, or 3.6 percent, to 10.5 million barrels, the ministry’s data showed. That’s a three-week high.

Light-distillate supplies including naphtha, gasoline and reformate declined 230,000 barrels, or 2.4 percent, to 9.37 million barrels, according to the data.

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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