Singapore fuel oil stockpiles ease to three-week lows

ReutersJan 8, 2026 8:48 AM

SINGAPORE, Jan 8 (Reuters) - Onshore fuel oil stockpiles in Singapore dipped to their lowest in three weeks after imports slowed, data showed on Thursday.

Inventories were at 25.41 million barrels (about 4 million metric tons) in the week to January 7, down 5% from the previous week, based on data from Enterprise Singapore. O/SING1

Imports into onshore tanks fell during the first week of 2026, sliding 26% to 756,000 tons. The top import origin was Indonesia.

Meanwhile, exports out of the tanks declined to about 227,000 tons, down 33% week-on-week. Most of the exports were headed for China.

Despite the weekly retreat in the inventory levels, the stockpiles continued to hover well above an average of 23 million barrels per week seen last year.

The high inventory has limited markets from rebounding sharply, with high-sulphur and low-sulphur spot differentials stuck in discounts into early 2026.

Week to Jan. 7, Fuel oil (in metric tons)	Total Imports	Total Exports	Net Imports
BANGLADESH	0	20,117	-20,117
BRAZIL	232,648	0	232,648
CHINA	0	66,249	-66,249
GERMANY	0	0	0
INDONESIA	206,102	0	206,102
JAPAN	26,452	0	26,452
KUWAIT	5,000	0	5,000
MALAYSIA	166,961	88,712	78,250
NEW ZEALAND	0	8,839	-8,839
SAUDI ARABIA	48,619	0	48,619
SOUTH SUDAN	11,001	0	11,001
SRI LANKA	0	42,641	-42,641
TAIWAN	33,129	0	33,129
UNITED STATES	26,126	0	26,126
TOTAL	756,039	226,558	529,481

(Data from Enterprise Singapore)

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