Residual-Fuel Supplies in Singapore Rise to a Four-Month High
Singapore’s stockpiles of residual fuels rose to the highest level in more than four months, according to data from the Ministry of Trade and Industry.
Onshore inventories of residues, a category that includes fuel oil and low-sulfur waxy residue and excludes bitumen, increased 4.6 percent to 22.2 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 highest level since July 4.
Stockpiles of light distillates such as naphtha, reformate and gasoline rose 7.9 percent to 10.9 million barrels. Middle distillates such as gasoil and kerosene fell 16 percent to 9.2 million barrels.
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.
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