STOCKS DATA: Singapore fuel oil stocks tumble to 1-month low

Quantum Commodity Intelligence – Fuel oil stocks held in independent storage in Singapore tumbled to a one-month – unwinding all prior week's gains – as long-running supply tightness returned to the world's largest bunkering port.

Fuel oil inventories slumped 2.76 million barrels on the week – its sharpest weekly fall since the start of December last year – to 21.37 million barrels but remaining above the 20.39 million held in store this time last year, weekly data from Enterprise Singapore showed.

Stocks of middle distillates fell for a second straight week, also reaching a one-month low of 7.36 million barrels, down 106,000 barrels on the week, and half the volumes held in private storage this time last year.

Light ends saw a 294,000-barrel gain on the week to 14.44 million barrels, taking back last week's losses but below the peak of 15.73 million barrels seen at the start of the week.

That compares to the 15.48 million barrels of light ends held in store this time last year.

Combined stocks in Singapore were down over 2.5 million barrels on the week to 43.17 million – its lowest since the end of 2021.

The figures were at a stark difference to this week's stock levels at the bunkering hub in Fujairah where residual stocks noted at 2.81-million-barrel build leaving total stocks at 10.452 million barrels, with light ends and middle distillates stocks also gaining.

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