Singapore fuel oil inventories increase 6% this month
Singapore’s residual fuel oil stocks have averaged 6% higher so far in September than across August, Enterprise Singapore’s latest data shows. Changes in monthly average Singapore stocks from August to September (so far): • Residual fuel oil stocks up 1.11 million bbls to 20.09 million bbls • Middle distillate stocks up 160,000 bbls to 8.35 ...
Singapore's residual fuel oil stocks rose 6% in September compared to August, according to Enterprise Singapore's latest data. Residual fuel oil stocks increased to 20.09 million barrels, while middle distillate stocks rose to 8.35 million barrels. The total fuel oil stocks surpassed 20 million barrels for the first time. Net fuel oil imports surged by 12%, with an additional 145,000 barrels imported and 189,000 barrels exported less.
Syria was the top source of fuel oil imports at 13%, followed by the UAE at 10% and Brazil at 8%. China led fuel oil exports, accounting for 27%, followed by Malaysia at 22% and South Korea at 21%. Singapore's middle distillate inventories also grew by 2% to 8.35 million barrels. The country's fuel oil trade remained tight, with recommended lead times for heavy fuel oil (HSFO) at 13-17 days, similar to previous weeks.
Light, medium, and heavy gas oil (LSMGO) supply improved, with lead times decreasing from 6-8 days to 5-7 days.
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