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Singapore Middle Distillate Stockpiles Fall to Three-Month Low

Feb. 14 (Bloomberg) -- Singapore’s stockpiles of middle distillates fell to the lowest level in almost three months, according to data from the Ministry of Trade and Industry.

Onshore inventories of middle distillates, a category that includes gasoil and kerosene, dropped 11 percent to 9.47 million barrels, in the week ended yesterday, International Enterprise Singapore, a unit of the ministry, said today in an e-mailed statement. Supplies are at the lowest since Nov. 21.

Stockpiles of residues such as fuel oil and low-sulfur waxy residue fell 3 percent to 18.8 million barrels, a three-week low. This category excludes bitumen.

Stockpiles of light distillates such as naphtha, reformate and gasoline declined 1.5 percent to 9.54 million barrels, the lowest this year.

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: Ann Koh in Singapore at akoh15@bloomberg.net

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

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