Bloomberg News

Singapore Residual-Fuel Stockpiles Fall to Lowest Since February

October 06, 2011

Oct. 6 (Bloomberg) -- Residual-fuel inventories in Singapore, Asia’s largest oil-trading and storage center, fell 14 percent to the lowest since February, according to a unit of the Ministry of Trade and Industry.

Onshore supplies including fuel oil and low-sulfur waxy residue and excluding bitumen dropped 2.75 million barrels in the week to yesterday to 17.02 million, International Enterprise Singapore said today in an e-mailed statement. That’s the lowest since the seven days ended Feb. 16.

Stockpiles of middle distillates including gasoil, or diesel, and kerosene declined 1.4 million barrels, or 9.9 percent, to 12.73 million. That’s the lowest in four weeks, based on the ministry’s data.

Light-distillate inventories including naphtha, gasoline and reformate increased 862,000 barrels, or 9.1 percent, to 10.32 million, a 10-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: Ryan Woo, Paul Gordon.

To contact the reporter on this story: Yee Kai Pin in Singapore at kyee13@bloomberg.net

To contact the editor responsible for this story: Paul Gordon at pgordon6@bloomberg.net.


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