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2025-09-18 16:49:02
[Asian Fuel Oil Market: Inventories Plummet, Imports Shrink Significantly] ⑴ Official data shows that Singapore's onshore fuel oil inventories fell for the second consecutive week, but remained above 25 million barrels, with the monthly average rising slightly. As of Wednesday, fuel oil inventories fell to 25.41 million barrels, a three-week low and a 4.2% decrease from the previous week. ⑵ Singapore's total fuel oil imports this week totaled approximately 600,000 tons, a 20% decrease from the previous week. Most of this import came from the nearby storage hub of Malaysia. ⑶ Meanwhile, Singapore's total fuel oil exports totaled approximately 265,000 tons, a 64% increase from the previous month, with the majority going to Hong Kong. The spot price differential for low-sulfur fuel oil has recently rebounded, shifting from a discount to a premium. ⑷ Institutional research reports indicate that total fuel oil supplies to Asia this month may decline slightly due to a reduction in arbitrage cargoes from the West. In the week ending Wednesday, Singapore imported 595,000 tons of fuel oil and exported 265,000 tons. 5. Among them, the largest amount of fuel oil was imported from Malaysia, reaching 254,000 tons; the United States imported 56,000 tons of fuel oil; and Saudi Arabia imported 33,000 tons of fuel oil. The main export destination was Hong Kong, with an export volume of 79,000 tons, followed by Australia with an export volume of 45,000 tons.
