Singapore fuel oil stockpiles slip to 3-week lows
SINGAPORE, May 2 (Reuters) - Onshore fuel oil stockpiles at key trading hub Singapore fell to their lowest in three weeks as imports eased, data showed on Thursday.
Residual fuel inventories STKRS-SIN were at 22.5 million barrels (about 3.54 million metric tons) in the week to May 1, based on Enterprise Singapore data. O/SING1
Net imports totalled about 780,000 tons for the week, down 12% from the previous week.
The top three supply origins recorded for the week were Russia and Indonesia, excluding movements from storage facilities in Malaysia.
Meanwhile, outflows from Singapore onshore tanks mostly headed to Australia, South Korea and India.
Spot premiums for both the high-sulphur fuel oil and low-sulphur fuel oil markets have recovered slightly in recent sessions. FUEL/A
Week to May. 1, Fuel oil (in metric tons) | Total Imports | Total Exports | Net Imports |
AUSTRALIA | 0 | 10,998 | -10,998 |
BANGLADESH | 0 | 0 | 0 |
BRAZIL | 60,139 | 0 | 60,139 |
CONGO | 1,768 | 0 | 1,768 |
INDIA | 0 | 176 | -176 |
INDONESIA | 82,102 | 7 | 82,095 |
IRAQ | 20,000 | 0 | 20,000 |
JAPAN | 18,159 | 0 | 18,159 |
KOREA | 5,024 | 7,610 | -2,587 |
MALAYSIA | 251,232 | 96,548 | 154,685 |
MEXICO | 69,824 | 0 | 69,824 |
NETHERLANDS | 17,000 | 0 | 17,000 |
NIGERIA | 33,233 | 0 | 33,233 |
RUSSIA | 272,312 | 0 | 272,312 |
TAIWAN | 44,446 | 0 | 44,446 |
THAILAND | 19,689 | 0 | 19,689 |
UNITED STATES | 0 | 0 | 0 |
TOTAL | 894,927 | 115,339 | 779,588 |
(Data from Enterprise Singapore)
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