Middle-distillate inventories fell to the lowest level in almost a year in Singapore, Asia’s largest oil-trading and storage center, according to a unit of the Ministry of Trade and Industry.
Onshore supplies including gasoil, or diesel, and kerosene slid by 881,000 barrels, or 9.4 percent, to 8.4 million in the seven days ended yesterday, International Enterprise Singapore said in an e-mailed statement today. That’s the lowest since the week ended July 4, 2012.
Stockpiles of residual fuels, including fuel oil and low-sulfur waxy residue and excluding bitumen, declined 3 million barrels, or 12 percent, to 21.4 million, according to the data. That’s the first drop in five weeks and the most since Aug. 15.
Light-distillate inventories including naphtha, gasoline and reformate rose 516,000 barrels, or 6.1 percent, to 8.9 million, according to the data. Supplies climbed a second week to a three-week high.
The trade ministry surveys refiners, traders and storage terminals on a voluntary basis. The results may exclude offshore storage capacity, International Enterprise said.
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