Editing Singapore Fuel Oil Stockpiles Extend Climb For Second Week

By Gabrielle Ng SINGAPORE, Oct 10 (Reuters) - Onshore fuel oil volumes stored at key trading hub Singapore rose for a second straight week as exports fell at a quicker pace than imports, official data showed on Thursday.<br>The inventories &lt;STKRS-SIN> climbed nearly 5% to 17.59 million barrels (about 2.77 million metric tons) in the week to Oct. 9, reaching their highest level in three weeks, based on data from Enterprise Singapore. Meanwhile, total fuel oil imports fell nearly 12.7% week-on-week to around 758,000 tons, with most cargoes hailing from the United States and the Netherlands.<br><br>Despite this, inventories rose as exports dropped almost 26.6% from the previous week, totalling about 294,000 tons. Most of the week's outflows were bound for China, excluding movements into storage hub Malaysia. Net imports, calculated by subtracting total exports from total imports, ticked 0.76% lower from the previous week to 464,000 tons.<br><br>High-sulphur 380-cst premiums held firm at an average of $19.20/mt this week, peaking at $23/mt at the start of the month versus September's average of $13.36/mt, indicating prompt supply tightness remains, LSEG Oil Research said. Heavy arrivals of low-sulphur fuel oil crude blendstocks in September narrowed premiums by about $6/mt on-month to $15.70/mt as of Oct.<br><br>If you enjoyed this write-up and you would such as to obtain even more facts concerning [https://datxanh.group/stmoritz/ VĂN PHÒNG ST. MORITZ] kindly go to the internet site. 7, LSEG Oil Research said. Week to Oct 2, Fuel oil (in Total Total Net Imports metric tons) Imports Exports ANGOLA 1 0 1 AUSTRALIA 32,400 0 32,400 BRAZIL 20,479 0 20,479 CHINA 0 157,941 -157,941 INDIA 65,728 141 65,587 INDONESIA 28,402 1 28,402 JAPAN 26,944 0 26,944 KOREA, REP OF 26,316 0 26,316 MALAYSIA 208,933 136,215 72,719 NEPAL 0 41 -41 NETHERLANDS 112,380 0 112,380 NIGERIA 62,790 0 62,790 TAIWAN 44,502 0 44,502 UNITED ARAB EMIRATES 8,584 0 8,584 UNITED STATES 120,946 0 120,946 TOTAL FOR 27101979 758,406 294,338 464,068 (Data from Enterprise Singapore) (Reporting by Gabrielle Ng; Editing by Mrigank Dhaniwala)