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OIL: Singapore Total Fuel Inventories Edge to Highest Since Early September
Singapore total oil inventories rose for a fifth straight week by 0.3% in the week to Dec. 4 to remain at the highest since early September at 43.06mbbl, according to Enterprise data.
- Fuel oil stocks fell 2.3% w/w to 18.788mbbl from 19.232mbbl last week. Net imports fell 26.9% at 532k tons in the week but inventories remained higher than November's average of 18.15mbbl per week.
- Singapore’s middle distillate edged lower by 1.3% on the week to 10.239mbbl from the highest since mid October at 10.370mbbl the previous week.
- Light distillates rebounded by 5.2% to 14.035mbbl following a dip last week to 13.344mbbl.
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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.