Singapore Light-Distillate Stockpiles Rise by Most in Four Weeks
Light-distillate inventories in Singapore, Asia’s largest oil-trading and storage center, climbed 10 percent the past week, the most in a month, according to a unit of the Ministry of Trade and Industry.
Onshore stockpiles including naphtha, gasoline and reformate rose 933,000 barrels to 10.1 million barrels in the seven days to yesterday, International Enterprise Singapore said today in an e-mailed statement. That’s the biggest gain since the week ended Oct. 17.
Stockpiles of middle distillates including gasoil, or diesel, and kerosene dropped 362,000 barrels, or 3.2 percent, to 11 million barrels, the ministry’s data showed. That’s the second decline in three weeks.
Residual-fuel inventories including fuel oil and low-sulfur waxy residue and excluding bitumen increased 324,000 barrels, or 1.5 percent, to 21.2 million, according to the data. Supplies were 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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