Bloomberg News

Singapore Light-Distillate Stockpiles Fall to Nine-Month Low

June 13, 2013

Light-distillate stockpiles fell to the lowest level in more than nine months in Singapore, Asia’s largest oil-trading and storage center, according to a unit of the Ministry of Trade and Industry.

Inventories including naphtha, gasoline and reformate dropped 1.8 million barrels, or 18 percent, the biggest decline in more than seven months, to 8.3 million in the seven days ended yesterday, International Enterprise Singapore said today in an e-mailed statement. That’s the lowest since the week ended Aug. 29.

Residual-fuel inventories including fuel oil and low-sulfur waxy residue and excluding bitumen rose by 68,000 barrels, or 0.3 percent, to 22.4 million, according to the data. Supplies rose for a third week to the highest level since the week ended Dec. 5.

Middle-distillate stockpiles including gasoil, or diesel, and kerosene remained at 10.2 million barrels, the highest since May 1, according to the data.

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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