Singapore Residue Stocks Jump to Three-Year High

by Ship & Bunker News Team
Tuesday July 14, 2020

Commercial onshore residue stocks in Singapore have risen to the highest level in three years, according to price reporting agency S&P Global Platts.

The stocks rose by 6.1% in the week to July 8 to reach 26.666 million barrels, Platts reported Monday, citing data released by Enterprise Singapore on July 9.

Earlier this week preliminary data from the country's Maritime and Port Authority (MPA) showed bunker demand in Singapore slipped for a second month in a row in June, dropping by 2.3% on the year to 3.829 million mt.

The decline added to a similar fall in May, after several months of gains before that.