Singapore's middle distillate stocks surged to a two-year high of 10.42mn bl, as gasoil and jet fuel exports from the city-state continued to plunge.
Gasoil exports slowed in the latest week to 15 November to a six-week low of 1.78mn bl, showed latest data from Enterprise Singapore. Fewer supplies left the city-state for Malaysia and Indonesia, which were among the top outlets for gasoil in the previous week. Australia and the US were the top destinations for gasoil supplies from Singapore instead, in the latest week.
Imports of gasoil also dipped on the week, with fewer countries supplying gasoil to Singapore. Most supplies arrived from China and Malaysia, followed by Thailand.
Singapore's jet fuel exports also halved compared to the week before, contributing to the overall build in middle distillate stocks in Singapore.
Supplies were mostly bound for Australia and Fiji. But imports of jet fuel were almost zero, with a minimal amount of supplies arriving from Vietnam and Sweden last week.
| Singapore middle distillates (week to 15 Nov 2023) | mn bl | ||
| Volume | ± week on week | ± week on week (%) | |
| Stock levels | 10.42 | 0.47 | 4.8 |
| Gasoil imports | 1.12 | -0.55 | -32.9 |
| Gasoil exports | 1.78 | -0.81 | -31.2 |
| Jet fuel imports | 0 | -0.32 | -99.9 |
| Jet fuel exports | 0.12 | -0.15 | -55 |
| Source: Enterprise Singapore | |||
