Singapore’s stockpiles of residues, or fuel oil, fell to the lowest in four months, data from a unit of the Ministry of Trade and Industry showed.
Onshore inventories of residues, including fuel oil and low-sulfur waxy residue and excluding bitumen, dropped 13 percent to 18 million barrels in the seven days to June 15, International Enterprise Singapore said in an e-mailed statement today. Stockpiles are at the lowest since Feb. 16.
Supplies of middle distillates, including gasoil and kerosene, fell 2.9 percent to 14.7 million barrels. Light distillates such as naphtha, reformate and gasoline dropped 2.2 percent to 9.3 million barrels.
The trade ministry surveys refiners, oil companies and storage terminals on a voluntary basis. The results may exclude some offshore storage capacity, International Enterprise said.
Source: Bloomberg
