Singapore fuel oil stockpiles ease but hold well above average
SINGAPORE, Aug 14 (Reuters) - Onshore fuel oil stockpiles in Singapore retreated after hitting a more than a seven-month high in the previous week, but continued to hold well above typical averages, data showed on Thursday.
Residual fuel inventories STKRS-SIN fell 6.4% to 24.65 million barrels (3.88 million metric tons) in the week to August 13, according to Enterprise Singapore data. O/SING1
The top supplier of volumes into Singapore onshore tanks was the United Arab Emirates, while the top destination for outflows from Singapore was China, excluding movements to and from neighbouring storage hub Malaysia.
Supplies to Asia remained ample and this capped market recovery while keeping inventories high, according to industry sources and ship-tracking data.
Fuel oil arrivals are expected to breach 5 million tons this month, based on estimates from LSEG Oil Research, buoyed by an increase in Middle East volumes.
Asia high-sulphur cargo differentials continued to hold in discounts into August, while differentials for low-sulphur cargoes flipped from premiums to discounts in recent sessions. FUEL/A
Week to Aug. 13, Fuel oil (in metric tons) | Total Imports | Total Exports | Net Imports |
AZERBAIJAN | 13,129 | 0 | 13,129 |
BRAZIL | 97,627 | 0 | 97,627 |
BRUNEI | 0 | 1 | -1 |
CHINA | 0 | 127,694 | -127,694 |
GHANA | 0 | 0 | 0 |
HONG KONG | 0 | 60,000 | -60,000 |
INDIA | 33,146 | 272 | 32,874 |
INDONESIA | 29,285 | 0 | 29,285 |
IRAQ | 1,388 | 0 | 1,388 |
JAPAN | 21,788 | 0 | 21,788 |
KOREA | 8,054 | 0 | 8,054 |
MALAYSIA | 104,742 | 358,240 | -253,498 |
MYANMAR | 0 | 0 | 0 |
NEPAL | 0 | 43 | -43 |
NETHERLANDS | 5,946 | 0 | 5,946 |
NEW CALEDONIA | 0 | 55,575 | -55,575 |
PERU | 56,997 | 0 | 56,997 |
SAUDI ARABIA | 29,984 | 0 | 29,984 |
SRI LANKA | 0 | 29,995 | -29,995 |
SUDAN | 20,920 | 0 | 20,920 |
TAIWAN | 74,303 | 0 | 74,303 |
THAILAND | 36,340 | 0 | 36,340 |
TURKMENISTAN | 49,861 | 0 | 49,861 |
UNITED ARAB EMIRATES | 135,393 | 0 | 135,393 |
TOTAL | 718,904 | 631,821 | 87,083 |
(Data from Enterprise Singapore)
Related Articles
[Crypto IPO] Figure Skyrockets 44% on IPO Debut, All Eyes Now on Gemini as the Next Crypto Star
Figure’s strong first-day performance sets the stage for Gemini’s highly anticipated listing.
U.S. August CPI Preview: Persistent Rise in Inflation, What Impact on Rate Cuts? And on US Stocks?
TradingKey - On 11 September 2025, the U.S. will publish August CPI data. Consensus forecasts indicate a 0.3% month-over-month increase for both headline CPI and core CPI. As a result, headline CPI year-over-year may climb to 2.9%, up from 2.7%
Fed to Cut Rates: All Asset Prices Up!
TradingKey - The Federal Reserve is almost certain to restart its interest rate cut cycle on 17 September this year. After in-depth research, we have concluded that cryptocurrencies, the broader U.S. stock market, and short-term U.S. Treasury bonds will all go up.
Unlocking Gold’s Next Leg: $4,000 in Reach by 2025？
TradingKey - Gold has kicked off a fresh uptrend in early September, breaking out of months of compression and reclaiming key territory. The decisive move above $3,500 establishes a new support base and puts higher objectives back on the table for the weeks ahead
