Singapore’s fuel oil inventories edge down 3% in August

Singapore’s residual fuel oil stocks have averaged 3% lower so far in August than across July, Enterprise Singapore’s latest data shows.

Changes in monthly average Singapore stocks from July to August (so far):

• Residual fuel oil stocks down 570,000 bbls to 18.41 million bbls
• Middle distillate stocks down 490,000 bbls to 8.18 million bbls

Singapore’s fuel oil inventories have slipped below 19 million bbls so far in August, while middle distillate inventories have averaged 6% lower so far this month.

VLSFO availability remains tight, with suppliers now recommending lead times of 12–21 days, compared with 12–24 days last week. Supply continues to face pressure as fuel oil inventories have yet to recover to pre-conflict levels, while cargo inflows remain disrupted by fragile US-Iran peace talks, which continue to affect traffic through the Strait of Hormuz.

According to Enterprise Singapore data, the port’s fuel oil inventories fell from more than 23 million bbls in March, to below 18 million bbls in June. Stocks recovered slightly to around 19 million bbls in July but have remained below 19 million bbls so far this month.

Several suppliers are also facing tight delivery schedules, further limiting VLSFO availability.

HSFO availability remains constrained, with recommended lead times of 12–21 days, compared with 10–24 days a week earlier. LSMGO lead times have also lengthened to 4–12 days, from 2–11 days last week.

By Tuhin Roy

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