Singapore fuel oil stockpiles hold well above 24 million barrels

ReutersNov 20, 2025 8:09 AM

SINGAPORE, Nov 20 (Reuters) - Onshore fuel oil stockpiles in major oil storage hub Singapore posted a weekly decline, but remained well above 24 million barrels, data showed on Thursday.

Inventories for residual fuels STKRS-SIN eased 5.5% to 24.52 million barrels (about 3.86 million metric tons) in the week to November 19, logging a two-week low, based on data from Enterprise Singapore. O/SING1

The inventories continued to hover above a year-to-date average of about 22.5 million barrels per week.

Spot differentials for fuel oil were capped by high inventories. Differentials for high-sulphur fuel held steadily in steep discounts, while low-sulphur fuel oil differntials were rangebound this week. FUEL/A

Supplies from various regions to Asia remained plentiful. Total imports into onshore storage rose 47% week-on-week to more than 888,000 tons, with most inflows hailing from the Netherlands, Saudi Arabia and Indonesia.

Meanwhile, fuel oil exports from the tanks fell 29% to about 201,000 tons, with Bangladesh, China and Hong Kong as the key destinations.

Week to Nov. 19, Fuel oil (in metric tons)	Total Imports	Total Exports	Net Imports
AUSTRALIA	42,612	25,013	17,599
BANGLADESH	0	46,468	-46,468
BRAZIL	50,183	0	50,183
CHINA	0	17,000	-17,000
CONGO	78,218	0	78,218
FIJI	0	17	-17
HONG KONG	0	27,963	-27,963
INDONESIA	116,072	0	116,072
JAPAN	20,880	0	20,880
MALAYSIA	116,023	48,781	67,242
NETHERLANDS	151,377	0	151,377
NEW ZEALAND	0	23,161	-23,161
NIGERIA	15,195	0	15,195
SAUDI ARABIA	118,367	0	118,367
SOUTH SUDAN	20,998	0	20,998
SRI LANKA	0	12,600	-12,600
TAIWAN	28,615	0	28,615
THAILAND	71,849	0	71,849
UNITED ARAB EMIRATES	0	22	-22
UNITED STATES	42,884	0	42,884
VIETNAM	15,463	0	15,463
TOTAL	888,737	201,026	687,711

(Data from Enterprise Singapore)

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