Singapore fuel oil inventories hit three-week low
SINGAPORE, Feb 19 (Reuters) - Singapore onshore fuel oil inventories fell to their lowest level in three weeks, with imports slowing after a jump in the previous week, data showed on Thursday.
Inventories fell 0.8% to around 22.52 million barrels (about 3.55 million metric tons) in the week to February 19, data from Enterprise Singapore showed. O/SING1
Total fuel oil imports into onshore tanks slipped 11% to about 783,000 tons over the week.
Most of the imports were from Russia, followed by Indonesia and Saudi Arabia.
Meanwhile, exports from Singapore onshore tanks fell 18% week-on-week to about 414,000 tons.
China remained the top destination for Singapore's fuel oil outflows, as in prior weeks. It was closely followed by Hong Kong.
Spot differentials for high sulphur fuel oil (HSFO) maintained at steady to higher levels on Monday, with some more spot trading emerging before the Lunar New Year holidays. FUEL/A
Week to Feb. 19, Fuel oil (in metric tons) | Total Imports | Total Exports | Net Imports |
AZERBAIJAN | 0 | 0 | 0 |
BANGLADESH | 0 | 20,010 | -20,010 |
BRAZIL | 87,963 | 0 | 87,963 |
CHINA | 0 | 143,791 | -143,791 |
HONG KONG | 0 | 140,788 | -140,788 |
INDONESIA | 109,160 | 0 | 109,159 |
JAPAN | 19,227 | 0 | 19,227 |
KUWAIT | 63,468 | 0 | 63,468 |
MALAYSIA | 38,443 | 56,883 | -18,440 |
NETHERLANDS | 67,074 | 0 | 67,074 |
NEW CALEDONIA | 0 | 52,471 | -52,471 |
PAKISTAN | 0 | 0 | 0 |
RUSSIA | 223,467 | 0 | 223,467 |
SAUDI ARABIA | 101,304 | 0 | 101,304 |
TAIWAN | 0 | 0 | 0 |
TURKMENISTAN | 29,985 | 0 | 29,985 |
UNITED ARAB EMIRATES | 43,407 | 0 | 43,407 |
TOTAL | 783,498 | 413,943 | 369,556 |
(Data from Enterprise Singapore)
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