Bloomberg News

Singapore Middle Distillate Stockpiles Climb to 10-Week High

January 12, 2012

Jan. 12 (Bloomberg) -- Singapore’s middle-distillate stockpiles climbed to the highest level in 10 weeks, data from the Ministry of Trade and Industry showed.

Onshore inventories of middle distillates including gasoil and kerosene increased 5.1 percent to 10.52 million barrels in the week to Jan. 11, International Enterprise Singapore, a unit of the ministry, said in an e-mailed statement today. Supplies are at the highest since Nov. 2.

Stockpiles of residues, a category that includes fuel oil and low-sulfur waxy residue and excludes bitumen, gained 0.6 percent to 16.31 million barrels. Light distillates, including naphtha, reformate and gasoline, declined 1.2 percent to 10.59 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: Paul Gordon, Alexander Kwiatkowski

To contact the reporter on this story: Christian Schmollinger in Singapore at christian.s@bloomberg.net

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


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