Singapore Fuel Oil Stockpiles Fall to the Lowest in Seven MonthsAnn Koh
Singapore’s stockpiles of fuel oil fell to the lowest level in more than seven months, according to data from a unit of the Ministry of Trade and Industry.
Onshore inventories of residues, a category that includes fuel oil and low-sulfur waxy residue, dropped 7.4 percent to 17.1 million barrels in the week ended yesterday, International Enterprise Singapore said today in an e-mailed statement. This category excludes bitumen. Supply is the lowest since Aug. 22.
Supplies of middle distillates such as gasoil and kerosene rose 9.2 percent to 10.06 million barrels, the data showed. Stockpiles of light distillates including naphtha, reformate and gasoline declined 3.7 percent to 10.67 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, IE Singapore said.