Bloomberg News

Singapore Fuel-Oil Stockpiles Rise to the Highest in Nine Months

March 01, 2012

Singapore’s stockpiles of fuel oil rose to the highest level in nine months, according to data from the Ministry of Trade and Industry.

Onshore inventories of residues, a category that includes fuel oil and low-sulfur waxy residue and excludes bitumen, increased 0.3 percent to 21.8 million barrels, International Enterprise Singapore, a unit of the ministry, said in an e- mailed statement today. Supplies are at the highest level since May 18.

Stockpiles of light distillates such as naphtha, reformate and gasoline increased 3.9 percent to 11.7 million barrels. Middle distillates, a category that includes gasoil and kerosene, fell 3.3 percent to 11.09 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.

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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