Bloomberg News

Singapore Middle-Distillate Fuel Supplies Rise to 15-Month High

January 31, 2013

Middle-distillate inventories in Singapore, Asia’s largest oil-trading and storage center, rose 1.5 percent to the highest in more than 15 months, according to a unit of the Ministry of Trade and Industry.

Onshore stockpiles including gasoil, or diesel, and kerosene climbed 168,000 barrels to 11.5 million in the seven days to yesterday, International Enterprise Singapore said today in an e-mailed statement. That’s the highest since the week ended Oct. 19, 2011.

Stockpiles of residue fuels including fuel oil and low- sulfur waxy residue and excluding bitumen increased 3 million barrels, or 17 percent, to 20.6 million, the ministry’s data showed. That’s the biggest gain since April 25.

Light-distillate inventories including naphtha, gasoline and reformate were down 300,000 barrels, or 2.7%, at 10.8 million, according to the data. Supplies were at a four-week low.

The trade ministry surveys refiners, traders and storage terminals on a voluntary basis. The results may exclude offshore storage capacity, International Enterprise said.

To contact the reporter on this story: Yee Kai Pin in Singapore at kyee13@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net


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