Singapore fuel oil stocks slip 5% in October despite higher imports

Engine reports, citing Enterprise Singapore data, that residual fuel oil inventories in Singapore have averaged roughly 5% lower in October so far than in September. They are now under 19 million barrels, at about 18.67 million.

The drop came even though net fuel oil imports climbed by around 42%. Imports went up while exports eased, with China taking most of the outbound cargoes. Middle distillate stocks moved the other way, rising about 11% to around 9.37 million barrels.

On the bunker side, demand is described as average, but supply is still tight. Most suppliers are running with low stocks, and late cargo arrivals linked to the conflict in the Middle East are squeezing availability further. HSFO is similarly constrained. LSMGO availability is still fairly healthy.

For buyers: if your vessel needs VLSFO or HSFO in Singapore in the coming weeks, fix the stem as early as you can and keep some flexibility on dates. Distillate stems should be simpler to cover.