Bloomberg News

Singapore Residual-Fuel Stockpiles Drop to Lowest Since August

April 04, 2013

Residual-fuel inventories in Singapore, Asia’s largest oil-trading and storage center, fell 4.4 percent to the lowest level in more than seven months, according to a unit of the Ministry of Trade and Industry.

Onshore stockpiles including fuel oil and low-sulfur waxy residue and excluding bitumen decreased 748,000 barrels to 16.3 million in the seven days to yesterday, International Enterprise Singapore said today in an e-mailed statement. That’s the fifth weekly decline, bringing supplies to the lowest since the week ended Aug. 22.

Stockpiles of middle distillates including gasoil, or diesel, and kerosene increased 32,000 barrels, or 0.3 percent, to 10.1 million barrels, the ministry’s data showed. That’s the third gain in four weeks.

Light-distillate inventories including naphtha, gasoline and reformate rebounded 728,000 barrels, or 6.8 percent, to 11.4 million barrels, according to the data. Stockpiles climbed to the highest since Jan. 9.

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


China's Killer Profits
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus