Singapore Middle-Distillate Stockpiles Gain Most Since May 2011
Middle-distillate inventories in Singapore, Asia’s biggest oil-trading and storage center, rose 21 percent during the past week, the most in 1 1/2 years, according to a unit of the Ministry of Trade and Industry.
Onshore stockpiles including gasoil, or diesel, and kerosene rose 2 million barrels to 11.3 million in the seven days to yesterday, International Enterprise Singapore said today in an e-mailed statement. That’s the largest percentage increase since the week ended May 4, 2011.
Light-distillate supplies including naphtha, gasoline and reformate gained 33,000 barrels, or 0.4 percent, to 9.21 million, the ministry’s data showed. That’s the highest in three weeks.
The trade ministry surveys refiners, traders and storage terminals on a voluntary basis. The results may exclude offshore storage capacity, International Enterprise said.
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