Singapore fuel oil inventories edged down by 2% in February

Residual fuel oil stocks in Singapore averaged 2% lower in February than in January, according to data from Enterprise Singapore.

Changes in monthly average Singapore stocks from January to February:

• Residual fuel oil stocks down 540,000 bbls to 23.01 million bbls
• Middle distillate stocks up 70,000 bbls to 8.47 million bbls

Fuel oil inventories in Singapore fell below 24 million bbls in February, as the port’s net fuel oil imports declined by 3%. Total imports increased by 278,000 bbls, while exports increased by a larger 393,000 bbls.

Meanwhile, Singapore’s middle distillate inventories inched up, averaging 1% higher than the previous month.

Changes in monthly average Singapore fuel oil trade from January to February:

• Fuel oil imports up 278,000 bbls to 5.64 million bbls
• Fuel oil exports up 393,000 bbls to 2.38 million bbls
• Fuel oil net imports down 115,000 bbls to 3.26 million bbls

In Singapore, bunker supply has improved. Recommended lead times for VLSFO have narrowed to 6–10 days, down from 8–13 days last week. LSMGO lead times have also shortened to 4–9 days, compared with 8–12 days previously. HSFO now requires around 6–12 days, marking a modest improvement from 8–12 days last week.

By Tuhin Roy

Please get in touch with comments or additional info to news@engine.online