SINGAPORE, March 6 (Reuters) - Onshore fuel oil stockpiles at the Singapore hub fell for a third consecutive week, hitting its lowest in 18 weeks, data showed on Thursday.
Residue inventories STKRS-SIN were at 15.47 million barrels (2.44 million tons) in the week to March 5, sliding 11.9% from the previous week, Enterprise Singapore data showed. O/SING1
Supply arrivals to Asia edged lower last month, while strong backwardation in the high-sulphur fuel market was supportive of drawdowns.
No direct fuel oil imports from Russia were recorded for a fifth straight week, Enterprise data showed.
The top supplying country in the week was Iraq, as more cargoes find their way from the Middle East to Singapore this month, drawn by strong prices.
Meanwhile, most of the week's fuel oil exports were headed to China, South Korea and Sri Lanka.
Asia's high-sulphur fuel benchmarks have soared in recent sessions, with spot premiums touching their year-to-date highs in early March.
Week to Mar. 5, Fuel oil (in metric tons) | Total Imports | Total Exports | Net Imports |
AUSTRALIA | 0 | 30,598 | -30,598 |
BAHRAIN | 58,588 | 0 | 58,588 |
BANGLADESH | 0 | 22,515 | -22,515 |
BRAZIL | 48,730 | 0 | 48,730 |
CANADA | 0 | 0 | 0 |
CHINA | 0 | 62,335 | -62,335 |
HONG KONG | 0 | 9,999 | -9,999 |
INDIA | 86,115 | 160 | 85,954 |
INDONESIA | 101,034 | 0 | 101,034 |
IRAQ | 286,305 | 0 | 286,305 |
JAPAN | 27,909 | 0 | 27,909 |
KOREA | 1 | 40,000 | -39,999 |
MALAYSIA | 239,889 | 25,847 | 214,042 |
NEPAL | 0 | 42 | -42 |
NETHERLANDS | 4,004 | 0 | 4,004 |
PHILIPPINES | 0 | 12,844 | -12,844 |
SRI LANKA | 0 | 35,001 | -35,001 |
THAILAND | 0 | 0 | 0 |
UNITED STATES | 215 | 0 | 215 |
VIETNAM | 0 | 202 | -202 |
TOTAL | 852,789 | 239,543 | 613,246 |
(Data from Enterprise Singapore)
Related Articles
BoE August Rate Decision Commentary: Where Next for the Pound?
TradingKey - On 7 August 2025, the Bank of England (BoE) lowered its benchmark interest rate from 4.25% to 4%, aligning with broad market expectations. Notably, the decision sparked significant division within the committee, requiring two rounds of voting to pass.
MP Materials 2Q25 Earnings Comment: Going up the Value Chain
TradingKey - MP Materials released its earnings for the second quarter of the fiscal 2025 on August 7th after the bell.The smaller loss and the better revenue were surely welcomed by investors, and the stock is up 8.50% in the post-bell session.
SMCI Q4 FY2025 Earnings Review: AI-Driven Growth Offset by Margin Pressures and Execution Challenges
TradingKey - Super Micro Computer, Inc. (NASDAQ: SMCI) reported its Q4 FY2025 earnings on August 5, 2025, after market close, delivering growth but missing both revenue and EPS expectations.
