Singapore fuel oil stockpiles slip to two-week low
(Reuters) - Singapore's onshore fuel oil stockpiles eased to a two-week low on lower imports, data showed on Thursday.
Inventories for fuel oil <STKRS-SIN> were down 2.75% at 21.403 million barrels (3.37 million metric tons) in the week ended March 27, the latest data from Enterprise Singapore showed. [O/SING1]
Imports totaled about 954,782 tons, down 24% on-week, with most supply coming from the United Arab Emirates, Malaysia, and Iraq.
Exports totaled about 13,678 tons, down 97% from last week. Most of the cargoes were bound for Sri Lanka, Malaysia, and Vietnam, the data showed.
Weekly onshore fuel oil inventories averaged 20.97 million barrels in March so far, compared with 21.44 million barrels in February, according to the data.
Spot cash premiums for the benchmark grade of 0.5% low-sulfur fuel oil <MFO05-SIN-DIF> have been range-bound between 75 and 165 cents a metric ton since March 5.
|
Week to March 27, Fuel oil (in metric tons) |
Total Imports |
Total Exports |
Net Imports |
|
CAMBODIA |
0 |
3 |
-3 |
|
GERMANY |
0 |
0 |
0 |
|
INDIA |
34,488 |
106 |
34,382 |
|
INDONESIA |
71,376 |
1 |
71,376 |
|
IRAQ |
116,862 |
0 |
116,862 |
|
JAPAN |
21,949 |
0 |
21,949 |
|
KUWAIT |
54,490 |
0 |
54,490 |
|
MALAYSIA |
141,947 |
5,381 |
136,566 |
|
MEXICO |
59,813 |
0 |
59,813 |
|
OMAN |
45,007 |
0 |
45,007 |
|
RUSSIA |
100,197 |
0 |
100,197 |
|
SAUDI ARABIA |
83,859 |
0 |
83,859 |
|
SOUTH SUDAN |
26,940 |
0 |
26,940 |
|
SRI LANKA |
0 |
7,990 |
-7,990 |
|
UNITED ARAB EMIRATES |
141,987 |
0 |
141,987 |
|
UNITED STATES |
55,866 |
0 |
55,866 |
|
VIETNAM |
0 |
198 |
-198 |
|
TOTAL |
954,782 |
13,678 |
941,104 |
(Data from Enterprise Singapore)
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