Inventories of diesel/gasoil and jet fuel/kerosene at key oil storage hub Singapore were at 8.845 million barrels in the week of Feb. 21, down from 9.547 million barrels from a week earlier, the data from Enterprise Singapore showed. [O/SING1]
Net exports of diesel/gasoil rose by 37% from last week, mainly due to an 11% decline in total imports.
Import arrivals were mostly from Russia and Saudi Arabia for the week, the data showed.
Meanwhile, around 100,000 metric tons of India-origin diesel/gasoil were bound for Singapore in February, shiptracking data from LSEG showed.
Total exports out of Singapore slightly grew by 1.2% week-on-week, reflecting the consistent trade flows to regional destinations such as Indonesia, Malaysia and Myanmar.
On the jet fuel/kerosene front, net exports fell by 130% week-on-week, due to a large increase in imports after previous quieter weeks.
Import arrivals were mostly from China and Malaysia for the week, the data showed.
Imports arrivals from China was at 59,742 tons, resurging after four weeks of zero arrivals, while arrivals from Malaysia were at 6,006 tons, logging its first arrival since the week ended Jan. 10.
Exports for jet fuel/kerosene were headed for Australia, the United States, and Malaysia.
(1 ton = around 7.45 barrels for gasoil)
(1 ton = around 7.88 barrels for jet fuel/kerosene)
(Reporting by Cassandra Yap; Editing by Mrigank Dhaniwala)
By Cassandra Yap
