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Singapore’s fuel oil stocks fall to more than two-year low

Oil

Singapore’s fuel oil stocks tumbled by 3.07M bbls w-o-w to 17.46M bbls during the week ending 11 May, the lowest level since July 2019, according to Reuters citing Enterprise Singapore data. Light distillate inventories also declined by 260K bbls w-o-w to 14.56M bbls after reaching a six-week high during the previous week, whereas middle distillate stocks increased by 1.37M bbls w-o-w to 7.42M bbls.