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Singapore Light Distillate Supplies Rise to Highest Since April

Nov. 3 (Bloomberg) -- Singapore’s stockpiles of light distillates rose to the highest in six months while fuel oil inventories gained for a second week, data from the Ministry of Trade and Industry showed.

Onshore inventories of light distillates, a category that includes naphtha, reformate and gasoline, rose 17 percent to 11.7 million barrels in the week ending Nov. 2, International Enterprise Singapore said in an e-mailed statement today. That is the highest level since April 20.

Stockpiles of residues, a category that includes fuel oil and low-sulfur waxy residue and excludes bitumen, increased 2.9 percent to 18.5 million barrels. Middle distillates such as gasoil and kerosene fell 4.5 percent to 10.6 million barrels.

Light-distillate inventories are 24 percent higher than during the week ending Sept. 28, when a fire occurred at Royal Dutch Shell Plc’s Pulau Bukom refinery. The company, which shut the entire plant, has restarted most units and expects to return to full capacity in December, Chief Financial Officer Simon Henry said on Oct. 27.

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: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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