Singapore fuel oil stockpiles extend gains, back above 20 mln barrels
SINGAPORE, Feb 13 (Reuters) - Singapore onshore fuel oil stockpiles climbed for a second week to a three-week high, rising above 20 million barrels, data showed on Thursday.
Residue inventories STKRS-SIN were at 20.08 million barrels (3.2 million tons) in the week to February 12, up 4.3% from the previous week, Enterprise Singapore data showed. O/SING1
Volumes have bounced back above typical averages after drawing sharply in the final week of January. Net imports rose week-on-week, calculations based on the data showed.
Market sentiment remains mixed on the supply outlook, with some trade participants cautious about tighter and slower arrivals from U.S.-sanctioned origins.
No direct fuel oil imports from Russia were recorded for a second straight week, the Enterprise data showed.
The top three supplying countries were Indonesia, Brazil and the United Arab Emirates.
Meanwhile, most of the week's fuel oil exports were headed to New Caledonia, Hong Kong and Marshall Islands.
Asia's fuel oil market firmed on the high-sulphur patch, led mainly by tighter sentiment in the upstream sour crude market.
Week to Feb. 12, Fuel oil (in metric tons) | Total Imports | Total Exports | Net Imports |
BAHRAIN | 16,761 | 0 | 16,761 |
BRAZIL | 117,485 | 0 | 117,485 |
CHINA | 0 | 6,783 | -6,783 |
CONGO | 30,029 | 0 | 30,029 |
HONG KONG | 0 | 45,989 | -45,989 |
INDIA | 36,178 | 168 | 36,011 |
INDONESIA | 131,307 | 0 | 131,307 |
IRAQ | 44,657 | 0 | 44,657 |
JAPAN | 19,282 | 0 | 19,282 |
KOREA, REP OF | 1 | 0 | 1 |
MALAYSIA | 152,536 | 59,375 | 93,161 |
MARSHALL ISLANDS | 0 | 6,796 | -6,796 |
NEW CALEDONIA | 0 | 56,019 | -56,019 |
NIGER | 12,156 | 0 | 12,156 |
PAKISTAN | 42,602 | 0 | 42,602 |
PHILIPPINES | 0 | 2,699 | -2,699 |
SAUDI ARABIA | 15,000 | 0 | 15,000 |
SPAIN | 26,511 | 0 | 26,511 |
TAIWAN | 17,711 | 0 | 17,711 |
THAILAND | 35,788 | 0 | 35,788 |
UNITED ARAB EMIRATES | 101,841 | 0 | 101,841 |
UNITED KINGDOM | 0 | 0 | 0 |
UNITED STATES | 49,930 | 0 | 49,930 |
VIETNAM | 0 | 6,259 | -6,259 |
TOTAL | 849,776 | 184,088 | 665,688 |
(Data from Enterprise Singapore)
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