Singapore fuel oil inventories recover to three-week highs
SINGAPORE, May 14 (Reuters) - Onshore fuel oil inventories in Singapore edged up to a three-week high, led by a recovery in imports, data showed on Thursday.
Residual fuel stockpiles gained 1.0% to 20.08 million barrels (about 3.16 million metric tons) in the week to May 13, according to Enterprise Singapore data. O/SING1
Total imports more than doubled week-on-week to above 941,000 tons, with Indonesia emerging as the top origin for inflows, followed by the United States and Brazil.
Imports from the Middle East remained low, except for a relatively small volume from Saudi Arabia.
Meanwhile, total exports of fuel oil rose 61.9% to more than 412,000 tons.
Most volumes were bound for neighbouring storage hub Malaysia, while a rare volume went to New Zealand.
Spot premiums for fuel oil have come under pressure in recent sessions. FUEL/A
Week to May 13, Fuel oil (in metric tons) |
Total Imports |
Total Exports |
Net Imports |
AUSTRALIA |
0 |
4,498 |
-4,498 |
BRAZIL |
90,789 |
0 |
90,789 |
BRUNEI |
0 |
0 |
0 |
COLOMBIA |
15,716 |
0 |
15,716 |
CONGO |
78,051 |
0 |
78,051 |
DENMARK |
29,996 |
0 |
29,996 |
GEORGIA |
31,871 |
0 |
31,871 |
INDIA |
38,215 |
176 |
38,039 |
INDONESIA |
122,007 |
6,599 |
115,408 |
JAPAN |
44,835 |
0 |
44,835 |
KOREA |
1 |
63,200 |
-63,199 |
MALAYSIA |
223,511 |
295,075 |
-71,564 |
MEXICO |
20,029 |
0 |
20,029 |
NETHERLANDS |
7,518 |
0 |
7,518 |
NEW ZEALAND |
0 |
42,749 |
-42,749 |
PAPUA NEW GUINEA |
0 |
0 |
0 |
SAUDI ARABIA |
17,403 |
0 |
17,403 |
THAILAND |
73,072 |
0 |
73,072 |
UNITED STATES |
97,455 |
0 |
97,455 |
VENEZUELA |
50,603 |
0 |
50,603 |
TOTAL |
941,071 |
412,297 |
528,774 |
(Data from Enterprise Singapore)