Singapore’s fuel oil stocks tumble to nine-month low

Oil

Singapore’s fuel oil inventories declined by 1.69M bbls w-o-w and 5.39M bbls y-o-y to 17.49M bbls during the week ending 24 May, the lowest level since August, according to Reuters citing Enterprise Singapore data. Middle distillate stocks rose by 360K bbls w-o-w to 7.83M bbls, while light distillate inventories also increased by 280K bbls w-o-w to 16.09M bbls.