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Singapore Middle Distillate Stocks at 2.5 Year High

OIL PRODUCTS

Singapore’s middle distillate stocks rose above 11mn bbls – the first time in 2.5 years as net exports slowed according to Enterprise Singapore data.

  • Gasoil/diesel and jet fuel/kerosene stocks stood at 11.208 million barrels in the week to April 10 – up 1mn bbls from a week prior.
  • Net exports of diesel/gasoil fell by over 20% w/w while imports gained 13%.
  • The possibility of swing supplies from India and the Middle East heading to Singapore for April may also add on to stockpiles in the near-term according to Kpler and LSEG figures.

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