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OIL: Singapore Total Fuel Inventories Edge to Highest Since Early September

OIL

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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