Singapore's fuel oil stocks faced a 6% decrease in October compared to September. According to newly released data, this decrease occurs while fuel oil imports have increased by 253,000 barrels per day.
Fuel Oil Trade Fluctuations
Analyses of the stocks indicate that fuel oil exports also faced a decrease of 49,000 barrels per day during this period. These changes clearly reflect the fluctuations in the Singapore fuel oil market, which has been affected by variable demand and supply.
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Increase in Middle Distillate Stocks
Meanwhile, Singapore's middle distillate stocks have increased by 10% during this period, reaching 9.35 million barrels. This increase in stocks may follow higher demand for middle distillate products in global markets.
The Singapore bunkering market remains under pressure, with delivery times for VLSFO (Very Low Sulphur Fuel Oil) extending to 14 to 21 days, up from 11 to 18 days last week. Additionally, the availability of HSFO (High Sulphur Fuel Oil) has decreased, with delivery times extending to 12 to 21 days.
Delivery times for LSMGO (Low Sulphur Marine Gas Oil) have also expanded from 6 to 9 days to 7 to 14 days. These changes indicate the challenges present in the supply chain and demand in the Singapore fuel oil market.
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