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Singapore Onshore Fuel Oil Stocks Grow for Second Week

OIL PRODUCTS

Onshore fuel oil stocks in Singapore rose for a second straight week, climbing 7.7% to 18.86 million barrels (2.97 million metric tons) in the week ended June 5 according to Enterprise Singapore data.

  • Onshore stockpiles are recovering from a recent level that left them at five and a half year lows.
  • Low inventories have supported fuel oil price benchmarks for high-sulphur fuel oil but the recovery has come off a bit this week.

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