Singapore’s stockpiles of fuel oil rose from the lowest level in three weeks, data from the Ministry of Trade and Industry showed. Onshore inventories of residues, a category that includes fuel oil and low-sulfur waxy residue and excludes bitumen, increased 3.2 percent to 17.7 million barrels in the week to yesterday, International Enterprise Singapore, a unit of the ministry, said in an e-mailed statement today. Last week, supplies dropped to the lowest since Oct. 19.
Stockpiles of middle distillates, a category that includes gasoil and kerosene, rose by 15 percent from a three-year low to 10 million barrels. Light distillates such as naphtha, reformate and gasoline, decreased 2.9 percent to 9.9 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.
Source: Bloomberg
