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Singapore Fuel-Oil Stockpiles Fall to Lowest in Three Weeks

Published: August 16, 2012 | 8:39 am
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Residual-fuel supplies in Singapore, Asia’s biggest center for oil trading, refining and storage, fell to the lowest in three weeks, according to a unit of the Ministry of Trade and Industry.

Stockpiles of fuel oil and low-sulfur waxy residue, excluding bitumen, declined by 3.46 million barrels, or 16 percent, to 17.8 million barrels in the seven days ended yesterday, International Enterprise Singapore said in an e- mailed statement today. That’s the lowest since the week ended July 25.

Middle-distillate stockpiles, including gasoil and kerosene, dropped by 357,000 barrels, or 3.7 percent, to 9.3 million, according to the data.

Light-distillate inventories of naphtha, gasoline and reformate gained by 252,000 barrels, or 2.7 percent, to 9.52 million.

The trade ministry surveys refiners, traders and storage terminals on a voluntary basis. The results may exclude offshore storage capacity, International Enterprise said.

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