Singapore’s fuel oil stocks edge down 3% this month

Singapore’s residual fuel oil stocks have averaged 3% lower so far this month 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 560,000 bbls to 18.41 million bbls
• Middle distillate stocks down 460,000 bbls to 8.21 million bbls

Singapore’s fuel oil inventories have fallen below 19 million bbls so far in August, while middle distillate stocks have averaged 5% lower so far this month.

Bunker availability has improved across all major fuel grades amid weak demand. VLSFO suppliers are now recommending lead times of 7-13 days, down from 12-21 days last week.

HSFO supply has also eased, with recommended lead times narrowing to 6-13 days from 12-21 days a week earlier. Availability of LSMGO has improved further, with lead times falling to 2-8 days, compared with 4-12 days last week.

By Tuhin Roy

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