Bloomberg News

Singapore’s Light-Distillate Stockpiles Climb to 15-Month High

May 02, 2013

Light-distillate inventories in Singapore, Asia’s largest oil-trading and storage center, rose 1.1 percent to the highest level in almost 15 months, according to a unit of the Ministry of Trade and Industry.

Onshore stockpiles including naphtha, gasoline and reformate gained 133,000 barrels to 11.7 million in the seven days to yesterday, International Enterprise Singapore said today in an e-mailed statement. Supplies climbed a third week to the highest since the period ended Feb. 8, 2012.

Stockpiles of middle distillates including gasoil, or diesel, and kerosene rebounded 1.32 million barrels, or 15 percent, to 10.4 million, the ministry’s data showed. Supplies increased the most since Dec. 5.

Residual-fuel inventories including fuel oil and low-sulfur waxy residue and excluding bitumen gained 2.03 million barrels, or 12 percent, to 18.5 million barrels, according to the data. That’s the highest level since March 13.

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: Winnie Zhu in Singapore at wzhu4@bloomberg.net

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


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