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Singapore Residual-Fuel Stockpiles Decline to a Five-Month Low

Jan. 24 (Bloomberg) -- Residual-fuel inventories in Singapore, Asia’s largest oil-trading and storage center, declined to the lowest in almost five months, according to a unit of the Ministry of Trade and Industry.

Stockpiles including fuel oil and low-sulfur waxy residue and excluding bitumen dropped 790,000 barrels, or 4.3 percent, to 17.6 million, in the seven days to yesterday, according to data from International Enterprise Singapore released in an e-mail today. That’s the lowest since the period ended Aug. 29.

Supplies of light distillate, including naphtha, gasoline and reformate rose 59,000 barrels from a week ago, or 0.5 percent, to 11.1 million barrels, the data showed.

Middle-distillate inventories including gasoil, or diesel, and kerosene increased 462,000 barrels, or 4.3 percent, to 11.3 million, the highest in seven weeks, 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.

To contact the reporter on this story: Winnie Zhu in Singapore at wzhu4@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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