Singapore fuel oil inventories ease to four-week lows
SINGAPORE, April 2 (Reuters) - Onshore fuel oil inventories in Singapore retreated to their lowest in four weeks, but stayed above typical average levels, data showed on Thursday.
Residual fuel stockpiles were down 4.3% at 23.47 million barrels (about 3.70 million metric tons) in the week to April 1, Enterprise Singapore data showed. O/SING1
Imports fell by 21.8% week-on-week to about 917,000 tons. Most of the week's inflows were from Nigeria, Brazil and Indonesia.
Middle East imports dropped to nearly zero following the curtailment of shipments out of the Strait of Hormuz, except for 60,000 tons from Saudi Arabia.
Meanwhile, exports of fuel oil rose 2.1% to slightly above 299,000 tons, with most volumes bound for Hong Kong.
Spot differentials for both high-sulphur fuel oil and low-sulphur fuel oil posted weekly declines as of Thursday, as prompt supply remained available. FUEL/A
Week to Apr. 1, Fuel oil (in metric tons) | Total Imports | Total Exports | Net Imports |
BRAZIL | 136,538 | 0 | 136,538 |
CHINA | 0 | 69,060 | -69,060 |
ESTONIA | 53,107 | 0 | 53,107 |
HONG KONG | 0 | 99,985 | -99,985 |
INDIA | 102,409 | 366 | 102,043 |
INDONESIA | 125,308 | 0 | 125,308 |
JAPAN | 61,029 | 0 | 61,029 |
KOREA | 1 | 30,002 | -30,001 |
MALAYSIA | 66,830 | 11,933 | 54,897 |
MAURITIUS | 0 | 36,186 | -36,186 |
NIGERIA | 201,060 | 0 | 201,060 |
PAKISTAN | 102,544 | 0 | 102,544 |
PHILIPPINES | 0 | 30,587 | -30,587 |
SAUDI ARABIA | 62,300 | 0 | 62,300 |
SEYCHELLES | 0 | 10,000 | -10,000 |
SRI LANKA | 0 | 11,350 | -11,350 |
UNITED STATES | 0 | 0 | 0 |
VIETNAM | 5,490 | 0 | 5,490 |
TOTAL | 916,614 | 299,469 | 617,145 |
(Data from Enterprise Singapore)
