Singapore fuel oil stockpiles rise to two-week high
SINGAPORE, Dec 26 (Reuters) - Onshore fuel oil stockpiles in Singapore rose to a two-week high, as both imports and exports rose from the previous week, data showed on Friday.
Inventories STKRS-SIN gained 4.3% week-on-week to 25.72 million barrels (about 4.05 million metric tons) in the week to December 24, data from Enterprise Singapore showed. O/SING1
Fuel oil inflows into onshore storage increased 5.6% to about 804,000 tons, with Indonesia as the top origin for the week.
Meanwhile, fuel oil outflows from Singapore tanks climbed 66.4% to about 510,000 tons, though most of these volumes were headed to neighbouring storage hub Malaysia, a sign that regional supplies are still building.
Asia fuel oil markets have been weighed by the high inventories in recent months, with price differentials stuck in discounts. FUEL/A
Week to Dec. 24, Fuel oil (in metric tons) | Total Imports | Total Exports | Net Imports |
BAHRAIN | 46,586 | 0 | 46,586 |
CHINA | 0 | 160,225 | -160,225 |
HONG KONG | 0 | 98,234 | -98,234 |
INDIA | 0 | 92 | -92 |
INDONESIA | 136,610 | 0 | 136,610 |
JAPAN | 10,193 | 0 | 10,193 |
KOREA, REP OF | 54,018 | 19,001 | 35,017 |
MALAYSIA | 293,764 | 215,915 | 77,849 |
NETHERLANDS | 83,518 | 0 | 83,518 |
SAUDI ARABIA | 96,189 | 0 | 96,189 |
TAIWAN | 12,981 | 9 | 12,972 |
UNITED KINGDOM | 0 | 0 | -0 |
UNITED STATES | 57,852 | 0 | 57,852 |
VIETNAM | 12,729 | 16,937 | -4,208 |
TOTAL | 804,442 | 510,413 | 294,029 |
(Data from Enterprise Singapore)
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