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Singapore Fuel-Oil Inventories Rise to the Highest in Six Weeks

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Sept. 20 (Bloomberg) -- Singapore’s stockpiles of residues rose to the highest level in six weeks, according to data from the Ministry of Trade and Industry.

Onshore inventories of residues, a category that includes fuel oil and low-sulfur waxy residue and excludes bitumen, rose 5.5 percent to 19.98 million barrels in the week ended Sept. 19, International Enterprise Singapore, a unit of the ministry, said today in an e-mailed statement. That is the highest level since the week ended Aug. 7. Supplies gained for a fourth week as shipments from western countries rose in September.

Stockpiles of light distillates such as naphtha, reformate and gasoline declined 9.9 percent to 8.61 million barrels. Middle distillates, a category that includes gasoil and kerosene, dropped 2.6 percent to 9.24 million barrels.

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: Winnie Zhu in Singapore at wzhu4@bloomberg.net

To contact the editor responsible for this story: Mike Anderson at manderson34@bloomberg.net

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