Singapore Fuel Oil Stockpiles Rebound To Two-week High

By Gabrielle Ng SINGAPORE, Aug 8 (Reuters) - Onshore fuel oil stockpiles at key trading and storage hub Singapore rebounded to a two-week high, though the levels remained below July's average, government data showed on Thursday.
The inventories <STKRS-SIN> ticked up 0.88% to 19.73 million barrels in the week ended Aug. 7, after falling for two consecutive weeks, based on Enterprise Singapore data. Despite the weekly rise, inventory levels remained muted, averaging 19. In case you loved this information and you would want to receive more details with regards to RỔ HÀNG GIỎ HÀNG SANG NHƯỢNG GEM SKY WORLD generously visit the web-page. 4 million barrels a week in August, versus a typical weekly average of over 20 million barrels in July.

Net fuel oil imports, calculated by subtracting total exports from total imports, fell more than 50% to about 283,886 tons in the week. Top suppliers included Brazil and Indonesia, excluding storage movements from Malaysia. Meanwhile, fuel oil outflows out of Singapore were mostly headed for South Korea and China.
Cash premiums for very low-sulphur fuel oil (VLSFO) declined on Thursday tracking broader weakness in Asian markets. Week to August 7, Fuel oil (in Total Total Net Imports metric tons) Imports Exports AUSTRALIA 24,595 0 24,595 BANGLADESH 0 30,097 -30,097 BRAZIL 93,592 0 93,592 CHINA 28,021 64,209 -36,188 GREECE 49,972 0 49,972 INDIA 0 96 -96 INDONESIA 82,292 6,649 75,643 IRAQ 47,861 0 47,861 JAPAN 15,260 0 15,260 KOREA, REP OF 0 80,858 -80,858 MALAYSIA 79,234 62,949 16,285 NEW CALEDONIA 0 55,276 -55,276 OMAN 81,185 0 81,185 TAIWAN 19,805 0 19,805 UNITED ARAB EMIRATES 62,203 0 62,203 TOTAL 584,020 300,134 283,886 (Data from Enterprise Singapore) (Reporting by Gabrielle Ng; editing by David Evans )