Bloomberg News

Singapore’s Fuel Stockpiles Fall 3.5% From Last Week

May 17, 2012

Singapore’s total oil-product inventories fell 3.5 percent.

Inventories in Asia’s biggest oil-trading center fell 1,393 thousand barrels to 38,696 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.

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

May.16 May.9 May.2 Apr.25 Apr.18 Apr.11

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

----------------- Thousand barrels ------------------ Total 38,696 40,089 38,553 38,443 37,935 42,460 Light distillates 9,585 10,208 10,396 10,384 10,724 10,786 Middle distillates 10,740 10,010 8,928 8,828 10,817 10,996 Residues 18,371 19,871 19,229 19,231 16,394 20,678 --------------------------------------------------------------------------

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

May.16 May.9 May.2 Apr.25 Apr.18 Apr.11

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

----------- Weekly change (’000 barrels) ------------ Total -1,393 1,536 110 508 -4,525 -367 Light distillates -623 -188 12 -340 -62 5 Middle distillates 730 1,082 100 -1,989 -179 1,037 Residues -1,500 642 -2 2,837 -4,284 -1,409

-------------- Weekly change (Percent) -------------- Total -3.5% 4.0% 0.3% 1.3% -10.7% -0.9% Light distillates -6.1% -1.8% 0.1% -3.2% -0.6% 0.0% Middle distillates 7.3% 12.1% 1.1% -18.4% -1.6% 10.4% Residues -7.5% 3.3% 0.0% 17.3% -20.7% -6.4% ========================================================================== 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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