Singapore Light-Distillate Stockpiles at Six-Week High

Light-distillate inventories in Singapore, Asia’s largest oil-trading and storage center, rose to the highest level in six weeks, according to a unit of the Ministry of Trade and Industry.

Onshore stockpiles including naphtha, gasoline and reformate climbed 99,000 barrels, or 1 percent, to 9.55 million in the seven days ended yesterday, International Enterprise Singapore said in an e-mailed statement. That’s the highest level since the week ended Aug. 1.

Middle-distillate inventories including gasoil, or diesel, and kerosene increased 503,000 barrels, or 5.6 percent, to 9.48 million, the ministry’s data showed. Supplies gained the most in five weeks.

Stockpiles of residual fuels including fuel oil and low-sulfur waxy residue and excluding bitumen were up 494,000 barrels, or 2.7 percent, at 18.9 million, according to the data. That’s a five-week high.

The trade ministry surveys refiners, traders and storage terminals on a voluntary basis. The results may exclude offshore storage capacity, International Enterprise said.

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