Bloomberg News

Singapore Residual-Fuel Supplies Rise to Highest Since September

February 02, 2012

Feb. 2 (Bloomberg) -- Residual-fuel inventories in Singapore, Asia’s largest oil-trading and storage center, climbed 8.7 percent to the highest in more than four months, according to a unit of the Ministry of Trade and Industry.

Onshore stockpiles including fuel oil and low-sulfur waxy residue and excluding bitumen increased 1.58 million barrels in the week to yesterday to 19.71 million, International Enterprise Singapore said today in an e-mailed statement. That’s the highest since the seven days ended Sept. 28.

Light-distillate inventories including naphtha, gasoline and reformate dropped 1.1 million barrels, or 9.9 percent, to 9.96 million. That’s the biggest decline in 12 weeks.

Supplies of middle distillates including gasoil, or diesel, and kerosene were up 61,000 barrels, or 0.7 percent, at 8.99 million, based on the ministry’s data. That’s the first gain in three weeks.

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

--Editors: Christian Schmollinger, Ryan Woo

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

To contact the editor responsible for this story: Mike Anderson at manderson34@bloomberg.net


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