Singapore fuel oil inventories hit two-week low
SINGAPORE, Feb 12 (Reuters) - Singapore onshore fuel oil inventories fell to their lowest level in two weeks, with imports slowing after a jump in the previous week, data showed on Thursday.
Inventories fell 6.2% to 22.70 million barrels (about 3.57 million metric tons) in the week to February 11, data from Enterprise Singapore showed. O/SING1
Total fuel oil imports into onshore tanks slipped 8.1% to about 876,000 tons over the week.
Kuwait was the top origin for the imports, after it loaded out record-high volumes of fuel oil last month as production at the al-Zour refinery recovered. Most of its cargoes were bound for Southeast Asia, according to trade sources and shipping data.
Meanwhile, exports from Singapore onshore tanks fell 25.8% week-on-week to about 352,000 tons.
China remained the top destination for Singapore's fuel oil outflows, as in prior weeks.
The spot market for high-sulphur fuel oil retained strong premiums in recent sessions, while low-sulphur fuel oil held in discounts. FUEL/A
Week to Feb. 11, Fuel oil (in metric tons) | Total Imports | Total Exports | Net Imports |
AZERBAIJAN | 7,495 | 0 | 7,495 |
BANGLADESH | 0 | 20,499 | -20,499 |
CHINA | 0 | 218,791 | -218,791 |
GEORGIA | 6,713 | 0 | 6,713 |
HONG KONG | 0 | 29,999 | -29,999 |
INDIA | 33,099 | 292 | 32,808 |
INDONESIA | 60,524 | 0 | 60,524 |
KAZAKHSTAN | 61,584 | 0 | 61,584 |
KUWAIT | 201,549 | 0 | 201,549 |
KYRGYZSTAN | 4,205 | 0 | 4,205 |
MALAYSIA | 99,118 | 82,092 | 17,026 |
PAKISTAN | 107,862 | 0 | 107,862 |
SOUTH SUDAN | 26,001 | 0 | 26,001 |
TAIWAN | 39,747 | 0 | 39,747 |
THAILAND | 101,808 | 0 | 101,808 |
TURKMENISTAN | 22,976 | 0 | 22,976 |
UNITED ARAB EMIRATES | 92,114 | 0 | 92,114 |
UNITED STATES | 10,976 | 1 | 10,975 |
TOTAL | 875,771 | 351,674 | 524,097 |
(Data from Enterprise Singapore)
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