Singapore’s Residual-Fuel Stockpiles Rise to Nine-Month High
February 23, 2012, 3:22 AM ESTBy Yee Kai Pin
Feb. 23 (Bloomberg) -- Residual-fuel inventories in Singapore, Asia’s largest oil-trading and storage center, climbed 10.4 percent to the highest in nine months, according to a unit of the Ministry of Trade and Industry.
Onshore supplies including fuel oil and low-sulfur waxy residue and excluding bitumen rose 2.04 million barrels in the week to yesterday to 21.74 million, International Enterprise Singapore said today in an e-mailed statement. That’s the highest since the seven days ended May 18.
Stockpiles of middle distillates including gasoil, or diesel, and kerosene were up 681,000 barrels, or 6.3 percent, at 11.47 million, based on the ministry’s data. Supplies increased for a fourth week to the highest since Oct. 19.
Light-distillate inventories including naphtha, gasoline and reformate gained 700,000 barrels, or 6.6 percent, to 11.25 million.
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
To contact the reporter on this story: Yee Kai Pin in Singapore at kyee13@bloomberg.net
To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net
