Bloomberg News

Singapore Light-Distillate Supplies Rise to Five-Week High

September 29, 2011

Sept. 29 (Bloomberg) -- Light-distillate inventories in Singapore, Asia’s largest oil-trading and storage center, climbed 4.3 percent to the highest in five weeks, according to a unit of the Ministry of Trade and Industry.

Onshore supplies, including naphtha, gasoline and reformate, rose 394,000 barrels in the week to yesterday to 9.5 million barrels, International Enterprise Singapore said today in an e-mailed statement. That’s the highest since the seven days ended Aug. 24.

Stockpiles of middle distillates including gasoil, or diesel, and kerosene increased 560,000 barrels, or 4.1 percent, to 14.1 million. That’s a six-week high, based on the ministry’s data.

Residual-fuel inventories, including fuel oil and low- sulfur waxy residue and excluding bitumen, climbed 4.8 percent to 19.8 million barrels, a two-week high.

The trade ministry surveys refiners, traders and storage terminals on a voluntary basis. The results may exclude offshore storage capacity, International Enterprise said.

--Editors: Paul Gordon, Ryan Woo

-0- Sep/29/2011 08:06 GMT

-0- Sep/29/2011 08:08 GMT

To contact the reporter on this story: Pratish Narayanan in Mumbai at pnarayanan9@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net -0- Sep/29/2011 08:01 GMT


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