Singapore fuel oil inventories climb for third straight week
SINGAPORE, May 21 (Reuters) - Onshore fuel oil inventories in Singapore edged higher for a third consecutive week, rising to near a one-month high, official data showed on Thursday.
Residual fuel stockpiles increased 7.1% to 21.50 million barrels (about 3.39 million metric tons) in the week to May 20, according to Enterprise Singapore. O/SING1
Imports rose 4.5% week-on-week to about 983,000 tons, with Brazil and the United States as the top cargo origins.
Meanwhile, exports climbed 20.1% to about 495,000 tons. Key destinations in the week were Saudi Arabia, Bangladesh and Sri Lanka.
Prompt fuel oil markets in Asia have shown signs of paring strength in recent sessions, as spot demand fundamentals remained subdued while arbitrage inflows stayed largely firm. FUEL/A
Week to May 20, Fuel oil (in metric tons) |
Total Imports |
Total Exports |
Net Imports |
BANGLADESH |
0 |
47,063 |
-47,063 |
BRAZIL |
147,634 |
0 |
147,634 |
CHINA |
52,562 |
66,168 |
-13,606 |
DENMARK |
49,531 |
0 |
49,531 |
FIJI |
0 |
13,401 |
-13,401 |
HONG KONG |
0 |
19,999 |
-19,999 |
INDONESIA |
55,887 |
0 |
55,887 |
JAPAN |
64,479 |
0 |
64,479 |
KOREA |
0 |
15,730 |
-15,730 |
MALAYSIA |
230,950 |
181,346 |
49,605 |
NETHERLANDS |
2,373 |
0 |
2,373 |
NIGERIA |
89,196 |
0 |
89,196 |
PAKISTAN |
40,075 |
0 |
40,075 |
PHILIPPINES |
0 |
11,004 |
-11,004 |
SAUDI ARABIA |
0 |
76,066 |
-76,066 |
SRI LANKA |
0 |
47,493 |
-47,493 |
TAIWAN |
38,767 |
0 |
38,767 |
THAILAND |
71,875 |
0 |
71,875 |
UNITED STATES |
121,791 |
0 |
121,791 |
VIETNAM |
17,944 |
16,943 |
1,001 |
TOTAL |
983,066 |
495,212 |
487,854 |
(Data from Enterprise Singapore)