Singapore distillate stocks hit 2 month high

London (Quantum Commodity Intelligence) - Stocks of middle distillates in Singapore hit their highest level in 2 months, according to media reports citing Enterprise Singapore.

Stocks of distillates including jet kero and diesel rose to just shy of 14 million barrels, up almost 500,000 barrels on the week.

Distillate cracks dipped on the news, with the 10ppm diesel June crack versus August cash Brent falling to $5.62/b, a fall of nearly $0.40/b, while jet kero cracks for the same month fell $0.46/b to a one-week low of $3.75/b.

Elsewhere, light end stocks, including liquefied petroleum gas, naphtha and gasoline, rose almost 500,000 barrels to 12.38 million – a two week high.

Meanwhile residual fuel stocks at the hub fell 852,000 barrels to 26.37 million barrels – the second-highest level in 10 months.