Singapore fuel oil stockpiles rise to two-week high
Onshore fuel oil stockpiles in Singapore rose to a two-week high, as both imports and exports rose from the previous week, data showed on Friday.
Inventories gained 4.3% week-on-week to 25.72 MMbbl [about 4.05 MM metric tonnes (t)] in the week to December 24, data from Enterprise Singapore showed.
Fuel oil inflows into onshore storage increased 5.6% to about 804,000 tons, with Indonesia as the top origin for the week.
Meanwhile, fuel oil outflows from Singapore tanks climbed 66.4% to about 510,000 tons, though most of these volumes were headed to neighboring storage hub Malaysia, a sign that regional supplies are still building.
Asia fuel oil markets have been weighed by the high inventories in recent months, with price differentials stuck in discounts.
|
Week to Dec. 24, Fuel oil (in metric tons) |
Total Imports |
Total Exports |
Net Imports |
|
BAHRAIN |
46,586 |
0 |
46,586 |
|
CHINA |
0 |
160,225 |
-160,225 |
|
HONG KONG |
0 |
98,234 |
-98,234 |
|
INDIA |
0 |
92 |
-92 |
|
INDONESIA |
136,610 |
0 |
136,610 |
|
JAPAN |
10,193 |
0 |
10,193 |
|
KOREA, REP OF |
54,018 |
19,001 |
35,017 |
|
MALAYSIA |
293,764 |
215,915 |
77,849 |
|
NETHERLANDS |
83,518 |
0 |
83,518 |
|
SAUDI ARABIA |
96,189 |
0 |
96,189 |
|
TAIWAN |
12,981 |
9 |
12,972 |
|
UNITED KINGDOM |
0 |
0 |
-0 |
|
UNITED STATES |
57,852 |
0 |
57,852 |
|
VIETNAM |
12,729 |
16,937 |
-4,208 |
|
TOTAL |
804,442 |
510,413 |
294,029 |
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