Singapore's total oil product inventories inched up slightly on the week in the week to 25 June following a rise in light and heavy distillate stocks, although middle distillate inventories fell, according to latest Enterprise Singapore data.
Singapore's light distillate inventories rose by 715,000 bl to a two-week high of 13.3mn bl, as a result of a drop in export volumes from the city-state. Singapore's export volume fell by 55pc to 2.24mn bl, driven by a drop in export volumes to the Asia-Pacific's largest gasoline buyer Indonesia. Exports to Indonesia was at 585,000 bl for the latest week as compared with 1.89mn bl for the week ending 18 June. But exports to Mexico continue to emerge as Singapore exported another medium-range cargo for the week ending 25 June, similar to the previous week.
Singapore's stocks of middle distillates — comprising jet fuel and gasoil — fell to a three-week low in the past week, mainly because of lower imports. Gasoil shipments into Singapore fell further during the week to 1.26mn bl, although Singapore continued to receive cargoes from the Middle East over the week. Meanwhile, gasoil exports from Singapore rose by 36pc on the week to 2.91mn bl, with shipments to many destinations including Indonesia, Australia and Sri Lanka, according to Enterprise Singapore data.
Jet fuel imports into the city-state was muted in the week to 25 June. Meanwhile, jet fuel exports from Singapore surged by 40pc on the week to 647,000 bl, including a shipment bound for the Netherlands.
Fuel oil stocks rebounded to a two-week high of 22.5mn bl. This came as fuel oil exports plunged by almost 40pc from the previous week, with most shipments headed to China, Vietnam and the Philippines. Imports also fell, but by a smaller magnitude of about 10pc. Brazil, Mexico, and South Sudan were Singapore's top suppliers this week, with no shipments from previous week's top supplier the UAE.
| Singapore onshore stocks (week to 25 June '25) | mn bl | ||
| Volume | ± w-o-w | ± w-o-w (%) | |
| Light distillates | |||
| Stocks | 13.33 | 0.72 | 5.67 |
| Naphtha imports | 1.27 | -0.41 | -24.30 |
| Naphtha exports | 0.15 | 0.15 | N/A |
| Gasoline imports | 0.80 | -1.49 | -65.10 |
| Gasoline exports | 2.24 | -2.74 | -55.10 |
| Middle distillates | |||
| Stocks | 10.36 | -0.86 | -7.64 |
| Gasoil imports | 1.26 | -0.15 | -10.39 |
| Gasoil exports | 2.91 | 0.76 | 35.51 |
| Jet fuel imports | 0.00 | -0.23 | N.A |
| Jet fuel exports | 0.65 | 0.19 | 40.40 |
| Residual fuels | |||
| Stocks | 22.50 | 1.00 | 4.64 |
| Fuel oil imports | 3.60 | -0.37 | -9.31 |
| Fuel oil exports | 0.90 | -0.57 | -38.93 |
| Source: Enterprise Singapore | |||
