Singapore middle distillates stocks rise for fourth week to six-week high
Singapore's middle distillates inventories rose for the fourth straight week to a six-week peak as net exports of jet fuel slid further while those of diesel climbed, official government data showed on Thursday.
Stock levels of diesel/gasoil and jet fuel/kerosene at key oil storage hub Singapore climbed to above 10 MMbbl for the week ended Nov. 20, compared with 9.641 MMbbl in the previous week, data from Enterprise Singapore showed.
For jet fuel/kerosene, net exports fell by 327% week-on-week.
Inflow of shipments rose 39% with India-origin imports taking the bulk of total import volumes for the week.
Exports of the aviation fuel dropped 58% week-on-week.
Meanwhile, net exports of diesel/gasoil grew six times, as total imports shrank by 65% whereas total exports of the fuel for the week rose 64% week-on-week.
Volumes were mostly bound for regional destinations in Southeast Asia or the Pacific.
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