Middle-distillate stockpiles in Singapore, Asia’s biggest oil-trading, refining and storage center, dropped to the lowest level in more than six months, according to a unit of the Ministry of Trade and Industry.
Inventories of gasoil and kerosene shrank by 682,000 barrels, or 7.6 percent, to 8.26 million in the seven days ended yesterday, International Enterprise Singapore said in an e- mailed statement today. That’s the least since the week ended Dec. 21.
Light-distillate supplies, including naphtha, gasoline and reformate, declined by 263,000 barrels, or 2.3 percent, to 10.98 million, according to the data.
Residual-fuel stockpiles, including fuel oil and low-sulfur waxy residue and excluding bitumen, increased for the first time in four weeks. Supplies gained 1.39 million barrels, or 7.2 percent, to 20.63 million, the highest level in more than two months.
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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