Singapore Residue Fuel Stockpiles Fall to Lowest in Three MonthsWinnie Zhu
Residual-fuel inventories in Singapore, Asia’s largest oil-trading and storage center, fell 3.3 percent to the lowest in three months, according to a unit of the Ministry of Trade and Industry.
Onshore stockpiles including fuel oil and low-sulfur waxy residue and excluding bitumen dropped 646,000 barrels to 18.8 million barrels in the seven days to yesterday, International Enterprise Singapore said today in an e-mailed statement. The residual-fuel supply declined for a fourth week to the lowest level since the week ended Oct. 3.
Stockpiles of middle distillates including gasoil, or diesel, and kerosene fell 317,000 barrels, or 3 percent, to 10.2 million barrels, the ministry’s data showed.
Light-distillate supplies including naphtha, gasoline and reformate rose 938,000 barrels, or 10 percent, to 10.3 million barrels, 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.