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Singapore’s Fuel-Oil Stockpiles Decline to Lowest in a Month

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Aug. 11 (Bloomberg) -- Singapore’s stockpiles of residues, or fuel oil, fell to the lowest in a month, data from the Ministry of Trade and Industry showed.

Onshore inventories of residues, a category that includes fuel oil and low-sulfur waxy residue and excludes bitumen, dropped 0.3 percent to 19.6 million barrels in the week ended Aug. 10, International Enterprise Singapore said in an e-mailed statement today. Supplies are the smallest since July 13.

Stockpiles of middle distillates, including gasoil and kerosene, rose 11 percent to 14.8 million barrels. Light distillates such as naphtha, reformate and gasoline dropped 6.8 percent to 8.9 million barrels, the lowest level since November 2009.

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: Ann Koh in Singapore at akoh15@bloomberg.net

To contact the editor responsible for this story: Jane Lee at jalee@bloomberg.net

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