Bloomberg News

Singapore’s Fuel Stockpiles Fall 3.3% From Last Week

March 15, 2012

Singapore’s total oil-product inventories fell 3.3 percent.

Inventories in Asia’s biggest oil-trading center fell 1,448 thousand barrels to 42,341 thousand barrels in the week ended yesterday, said International Enterprise Singapore, a unit of the trade ministry. The agency didn’t give a reason for the decline.

The following table provides a weekly comparison of the oil inventories for six weeks. Inventory figures are in thousands of barrels.

==========================================================================

Mar.14 Mar.7 Feb.29 Feb.22 Feb.15 Feb.8

2012 2012 2012 2012 2012 2012 ==========================================================================

----------------- Thousand barrels ------------------ Total 42,341 43,789 44,591 44,462 41,038 41,373 Light distillates 10,123 11,079 11,698 11,254 10,554 12,144 Middle distillates 10,305 11,297 11,094 11,473 10,792 9,743 Residues 21,913 21,413 21,799 21,735 19,692 19,486 --------------------------------------------------------------------------

==========================================================================

Mar.14 Mar.7 Feb.29 Feb.22 Feb.15 Feb.8

2012 2012 2012 2012 2012 2012 ==========================================================================

----------- Weekly change (’000 barrels) ------------ Total -1,448 -802 129 3,424 -335 2,709 Light distillates -956 -619 444 700 -1,590 2,184 Middle distillates -992 203 -379 681 1,049 751 Residues 500 -386 64 2,043 206 -226

-------------- Weekly change (Percent) -------------- Total -3.3% -1.8% 0.3% 8.3% -0.8% 7.0% Light distillates -8.6% -5.3% 3.9% 6.6% -13.1% 21.9% Middle distillates -8.8% 1.8% -3.3% 6.3% 10.8% 8.4% Residues 2.3% -1.8% 0.3% 10.4% 1.1% -1.1% ========================================================================== Note: Light distillates include naphtha, processed from crude oil and turned into chemicals and plastics. It does not include gases. Residues include fuel oil, which is used as ship fuel and burned by power plants to generate electricity. Residues excludes bitumen.

Source: International Enterprise Singapore


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