Middle-distillate inventories in Singapore, Asia’s biggest oil-trading and storage center, shrank 15 percent during the past week, the most in more than six months, according to a unit of the Ministry of Trade and Industry.
Onshore stockpiles including gasoil, or diesel, and kerosene fell 1.64 million barrels to 9.37 million in the seven days to yesterday, International Enterprise Singapore said today in an e-mailed statement. That’s the largest percentage drop since the week ended April 25.
Residual-fuel inventories including fuel oil and low-sulfur waxy residue and excluding bitumen declined 1.53 million barrels, or 7 percent, to 20.5 million, the ministry’s data showed. That’s the biggest percentage loss in five weeks.
Stockpiles of light distillates including naphtha, gasoline and reformate increased 194,000 barrels, or 2.2 percent, to 9.18 million, according to the data.
The trade ministry surveys refiners, traders and storage terminals on a voluntary basis. The results may exclude offshore storage capacity, International Enterprise said.