Fuel Oil Stockpiles in Singapore Fall From Three-Month High
Bloomberg
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Residues or heavy fuel inventories in Singapore, Asia’s biggest oil-trading center, fell from a three-month high this week, according to a unit of the Ministry of Trade and Industry.
Onshore stockpiles of residues, a category that includes fuel oil, low-sulfur waxy residue and excludes bitumen, decreased 6.4 percent to 22.8 million barrels in the week to yesterday, International Enterprise Singapore said in an e- mailed statement today. That’s the first drawdown in four weeks.
The country’s light distillates stockpiles, including naphtha, gasoline and reformate, also declined, dropping 10.3 percent to 9.69 million barrels, IE Singapore said. Middle distillate supplies such as gasoil, or diesel, and kerosene rebounded 18.2 percent from the previous week to 14.4 million barrels.
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