Singapore’s stockpiles of fuel oil fell to the lowest level in three months, according to data from the Ministry of Trade and Industry.
Onshore inventories of residues, a category that includes fuel oil and low-sulfur waxy residue and excludes bitumen, dropped 16 percent to 17.37 million barrels in the week ended July 18, International Enterprise Singapore, a unit of the ministry, said today in an e-mailed statement. Supplies are at the lowest since the week ended April 18.
Stockpiles of light distillates such as naphtha, reformate and gasoline, declined 5.5 percent to 9.65 million barrels, the lowest since the end of May. Middle distillates, a category that includes gasoil and kerosene, rose 4.5 percent to 9.36 million barrels.
The trade ministry unit surveys refiners, oil companies and storage terminals on a voluntary basis. The results may exclude some offshore storage capacity, International Enterprise said.
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