Singapore Fuel Oil Stockpiles Fall to the Lowest in Six Weeks

Author: Spencer Ogden
Date posted24/Nov/2011
Author: Spencer Ogden

Singapore’s stockpiles of fuel oilfell to the lowest in six weeks, data from the Ministry of Trade and Industry showed.

Onshore inventories of residues, a category that includes fuel oil and low-sulfur waxy residue and excludes bitumen, dropped 3.6 percent to 17.1 million barrels in the week to yesterday, International Enterprise Singapore, a unit of the ministry, said in an e-mailed statement today. Supplies are at the lowest since Oct. 12.

Stockpiles of middle distillates, a category that includes gasoil and kerosene, fell 6.9 percent to 9.31 million barrels.Light distillates such as naphtha, reformate and gasoline, rose 18 percent to 11.6 million barrels.

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