Singapore Light Distillate Stockpiles Rise to Eight-Week High

Singapore’s stockpiles of light distillates rose to the highest level in eight weeks, according to data from the Ministry of Trade and Industry.

Stockpiles of naphtha, reformate and gasoline increased 13 percent to 9.77 million barrels in the week ended Sept. 26, International Enterprise Singapore, a unit of the ministry, said today in an e-mailed statement. That’s the highest level since the week ended Aug. 1.

Middle distillates, a category that includes gasoil and kerosene, rose 1 percent to 9.33 million barrels.

Onshore inventories of residues, a category that includes fuel oil and low-sulfur waxy residue and excludes bitumen, fell 7.3 percent to 18.53 million barrels. Inventories were 19.98 million barrels a week earlier, the highest level since the week ended Aug. 7.

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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