Singapore fuel oil stocks rise despite sharp decline in net imports

Singapore's residual fuel oil stocks have risen by 1.37 million barrels to 20.36 million barrels so far in September, compared to August. Middle distillate stocks have also increased by 40,000 barrels to 8.24 million barrels. Despite a 30% decline in net fuel oil imports this month, Singapore's fuel oil inventories have exceeded 20 million barrels.

Fuel oil imports dropped by 1.67 million barrels, while exports decreased by 866,000 barrels. India, the UAE, and Malaysia are the top three import sources, while Malaysia is the leading export destination. Middle distillate inventories have grown by 1% this month to 8.24 million barrels. Recommended lead times for heavy and light fuel oil have tightened to 12-15 days and 10-12 days, respectively, compared to earlier periods.