Bloomberg News

Singapore’s Fuel-Oil Stockpiles Fall to the Lowest in Two Months

December 29, 2011

Dec. 29 (Bloomberg) -- Singapore’s fuel oil stockpiles shrank to the lowest level in more than two months, 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, dropped 12 percent to 17 million barrels in the week to Dec. 28, International Enterprise Singapore, a unit of the ministry, said in an e-mailed statement today. Supplies are at the lowest since Oct. 12.

Stockpiles of middle distillates such as gasoil and kerosene, rose 14 percent to 9.3 million barrels. Light distillates, a category that includes naphtha, reformate and gasoline, fell 7.7 percent to 10.1 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.

--Editors: Alexander Kwiatkowski, Christian Schmollinger

To contact the reporter on this story: Ann Koh in Singapore at akoh15@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net


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