Singapore Fuel Oil Supplies Fall to Lowest in More Than 2 Years
Friday, 20 January 2012 | 00:00
Singapore’s fuel-oil stockpiles fell to the lowest level in almost two and a half years, 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 6 percent to 15.33 million barrels in the week to Jan. 18, International Enterprise Singapore, a unit of the ministry, said in an e-mailed statement today. Supplies are at the lowest since July 29, 2009.
Stockpiles of middle distillates such as gasoil and kerosene decreased 5.6 percent to 9.93 million barrels. Light distillates, a category that includes naphtha, reformate and gasoline, increased 4.3 percent to 11.05 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.
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