Residual-fuel inventories in Singapore, Asia’s biggest oil-trading, refining and storage center, rose to the highest in four weeks, according to a unit of the Ministry of Trade and Industry.
Onshore stockpiles including fuel oil and low-sulfur waxy residue and excluding bitumen gained 642,000 barrels, or 3.3 percent, to 19.87 million in the seven days to yesterday, International Enterprise Singapore said in an e-mailed statement. That’s the highest since the week to April 11.
Middle-distillate supplies including gasoil, or diesel, and kerosene rose for a second week, gaining 1.08 million barrels, or 12 percent, to 10.01 million, the ministry’s data showed.
Stockpiles of light distillates including naphtha, gasoline and reformate declined 188,000 barrels to 10.21 million, according to the data. 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.
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