Singapore’s Light-Distillate Stockpiles Shrink to 10-Week Low

Aug. 8 (Bloomberg) -- Singapore’s stockpiles of light distillates fell to the lowest level in 10 weeks, according to data from the Ministry of Trade and Industry.

Onshore inventories of light distillates such as naphtha, reformate and gasoline, dropped 10 percent to 9.27 million barrels in the week ended Aug. 7, International Enterprise Singapore, a unit of the ministry, said in a statement today. Supplies are at the lowest since the week ended May 30.

Stockpiles of residues, a category that includes fuel oil and low sulfur waxy residue, and excludes bitumen, rose 7.3 percent to 21.3 million barrels. Middle distillates, such as gasoil and kerosene, increased 8.8 percent to 9.66 million barrels, the highest level in 12 weeks.

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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