Singapore fuel oil stockpiles retreat, fall to 5-week low
SINGAPORE, June 19 (Reuters) - Onshore fuel oil stockpiles at key trading hub Singapore declined after four straight weeks of gains, data showed on Thursday.
Residual fuel inventories STKRS-SIN fell 9.3% week-on-week to 21.5 million barrels (roughly 3.387 million metric tonnes) in the week to June 18, data from Enterprise Singapore showed. O/SING1
Inventory levels have been holding above typical weekly averages of 20 million barrels for five weeks.
Still, net imports rose 2% to 386,369 tons. Most of the week's imports hailed from Brazil, United Arab Emirates, and Mexico, data showed.
Meanwhile, total exports out of Singapore tanks totalled 228,815 tons, down 43% week-on-week. The cargoes mostly ended up in Hong Kong, Fiji, and Bangladesh.
Week to June 18, Fuel oil (in metric tons) | Total Imports | Total Exports | Net Imports |
BANGLADESH | 0 | 24,962 | -24,962 |
BRAZIL | 100,074 | 0 | 100,074 |
FIJI | 0 | 8,400 | -8,400 |
HONG KONG | 0 | 63,470 | -63,470 |
INDIA | 73,071 | 403 | 72,669 |
INDONESIA | 49,194 | 0 | 49,194 |
IRAQ | 39,234 | 0 | 39,234 |
KOREA | 31,709 | 14,244 | 17,465 |
KUWAIT | 24,992 | 0 | 24,992 |
MALAYSIA | 113,982 | 117,336 | -3,354 |
MEXICO | 75,663 | 0 | 75,663 |
NETHERLANDS | 1,660 | 0 | 1,660 |
THAILAND | 0 | 0 | 0 |
UNITED ARAB EMIRATES | 100,109 | 0 | 100,109 |
UNITED KINGDOM | 0 | 0 | 0 |
VIETNAM | 5,496 | 0 | 5,496 |
TOTAL | 615,184 | 228,815 | 386,369 |
(Data from Enterprise Singapore)
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