Singapore middle distillates inventories dip as gasoil imports fall

By Matthew Chye

SINGAPORE, May 11 (Reuters) - Inventories of middle distillates in storage at key trading hub Singapore edged lower as gasoil imports fell week on week, official data showed on Thursday.

Stock levels for gasoil and jet fuel/kerosene were at 7.477 million barrels (1.004 million tonnes) on May 10, compared with 7.786 million barrels a week earlier, data from Enterprise Singapore showed.

Total imports for gasoil fell by about 53% to approximately 60,000 tonnes.

Below are the week's top import contributor countries for gasoil and their respective volumes (in tonnes):

Import volumes from China were minimal for the fifth consecutive week, with this trend expected to continue.

Asian gasoil exports for April contracted sharply from March and were well below the first-quarter monthly average, led by a steep fall in Chinese exports and outflows from several other North Asian producers because of refinery maintenance amid shrinking gasoil margins, said Refinitiv Oil Research said.

Total exports for gasoil out of Singapore were up about 57% week on week at around 347,000 tonnes.

In jet fuel/kerosene, meanwhile, total imports rose while total exports fell week on week.

Below are the week's top export contributor countries for jet fuel and their respective volumes (in tonnes):

(Reporting by Matthew Chye
Editing by David Goodman
)

((matthew.chye@thomsonreuters.com; Mobile: +65 91552300))