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Singapore light distillate stocks rise

Oil

Singapore light distillate inventories shot up by 1.67M bbls w-o-w to 12.87M bbls during the week ending November 4, rebuilding after previously plummeting to the lowest level since November 2019 last week, according to data from Enterprise Singapore cited by Reuters. Middle distillate stocks declined by 860K bbls w-o-w to 14.98M bbls, however this is an increase of 3.87M bbls (or 35%) y-o-y. Onshore fuel oil inventories edged up by 10K bbls w-o-w to 23.23M bbls, after being drawn down for the past two weeks.