Singapore’s middle distillate stocks fall to lowest since 2018

Oil

Singapore’s middle distillate stocks declined by 601K bbls w-o-w to 7.41M bbls during the week ending 8 December, falling for the third week in a row to the lowest level since May 2018, according to Reuters citing Enterprise Singapore. Weekly middle distillate inventories have averaged 12.08M bbls so far during 2021, compared to 13.86M bbls across 2020. Light distillate stocks also decreased by 319K bbls w-o-w to 11.96M bbls, whereas fuel oil inventories rose by 812K bbls w-o-w to 20.63M bbls.