Bloomberg News

Singapore Residual-Fuel Supplies Highest Since May

March 15, 2012

Residual-fuel (SPIVRESD) inventories in Singapore, Asia’s largest oil-trading and storage center, climbed 2.3 percent to the highest in 10 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 rose 500,000 barrels in the week to yesterday to 21.9 million, International Enterprise Singapore said today in an e-mailed statement. That’s the highest since the seven days ended May 18.

Middle-distillate (SPIVMDIS) inventories including gasoil, or diesel, and kerosene dropped 992,000 barrels, or 8.8 percent, to 10.3 million, based on the ministry’s data. That’s the biggest decline in seven weeks.

Supplies of light distillates including naphtha, gasoline and reformate fell 956,000 barrels, or 8.6 percent, to 10.1 million. That’s the lowest in six weeks.

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

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


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