Free Trial

Singapore Distillate Stocks down 7.5% on Jet Draws

OIL PRODUCTS

Middle Distillate stocks at the key Singapore storage hub fell 7.5% on the week as draws of jet fuel countered rising gasoil imports, according to official data.

  • Total inventories of gasoil and jet fuel/kerosene were 7.989m bbl, equivalent to 1.072m mt in the week to Aug. 30, compared to 8.635m bbl the previous week.
  • Exports of jet fuel jumped by 54% on the week to 65k mt.
  • Jet outflows to the Pacific are expected to remain steady as China encourages more international travel within the region.
  • Imports of gasoil continue to climb as healthy profit margins are luring sellers to offload cargoes in Singapore.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.