Latest news with #stockpiles
Zawya
6 days ago
- Business
- Zawya
Singapore fuel oil stockpiles climb on strong Mideast imports
Singapore - Onshore fuel oil stockpiles rose in Singapore amid an uptick in imports while exports dipped, official data showed on Thursday. Residual fuel inventories rose 1.3% to 23.70 million barrels (3.73 million metric tons) in the week to July 23, according to Enterprise Singapore. The inventories held above weekly average levels for a tenth consecutive week, calculations showed. Imports exceeded 1.09 million tons in the week, up 32% from the previous week, led by strong inflows from Middle Eastern countries including Iraq and the United Arab Emirates. Meanwhile, exports from Singapore onshore tanks dipped 15% week-on-week to about 386,000 tons, with most volumes headed for Bangladesh and China. Amid persistently high inventories, spot market benchmarks remained under pressure. High-sulphur price differentials held in discounts this week, while low-sulphur price differentials logged narrower premiums. Week to Jul. 23, Fuel oil (in metric tons) Total Imports Total Exports Net Imports AUSTRALIA 0 16,827 -16,827 BAHAMAS 30,000 0 30,000 BANGLADESH 0 25,466 -25,466 BRAZIL 84,812 0 84,812 CHINA 15,692 38,010 -22,319 CONGO 28,302 0 28,302 GERMANY 0 0 0 INDIA 31,655 268 31,387 IRAQ 322,058 0 322,058 KOREA 27,824 0 27,824 MALAYSIA 78,238 190,573 -112,335 MAURITIUS 0 12,281 -12,281 NETHERLANDS 5,304 0 5,304 NEW CALEDONIA 0 7,200 -7,200 NEW ZEALAND 0 21,894 -21,894 NIGERIA 44,543 0 44,543 RUSSIA 99,831 0 99,831 SRI LANKA 33,440 0 33,440 SUDAN 23,250 0 23,250 THAILAND 38,121 0 38,121 UNITED ARAB EMIRATES 106,303 0 106,303 UNITED STATES 118,520 73,471 45,048 VIETNAM 5,499 202 5,297 TOTAL 1,093,392 386,193 707,200 (Data from Enterprise Singapore) (Reporting by Jeslyn Lerh; Editing by Sonia Cheema)
Yahoo
6 days ago
- Business
- Yahoo
Weekly Crude Inventories Fall More Than Expected; Oil Prices Edge Higher
Commercial crude stockpiles in the US decreased more than projected last week as motor gasoline, pro Sign in to access your portfolio
Yahoo
17-07-2025
- Business
- Yahoo
Oil Edges Higher With Stockpiles and Trade-War Twists in Focus
(Bloomberg) -- Oil edged higher after a three-day drop as traders tracked US stockpiles and the latest twists in the Washington-led trade wars. The Dutch Intersection Is Coming to Save Your Life Advocates Fear US Agents Are Using 'Wellness Checks' on Children as a Prelude to Arrests LA Homelessness Drops for Second Year Manhattan, Chicago Murder Rates Drop in 2025, Officials Say Brent rose toward $69 a barrel after shedding more than 2% over the previous three sessions, while West Texas Intermediate was near $67. US government data released on Wednesday was mixed, with an increase in distillate inventories but a decline in nationwide crude holdings. President Donald Trump said he would send letters to more than 150 countries notifying them of tariff rates, and that the levies imposed could be 10% or 15%. Investors were also tracking his stance toward Federal Reserve Chair Jerome Powell after the US leader denied a plan to remove him. Oil has ticked higher this month — building on an upward trend since May — despite concerns that Trump's tariff onslaught will hurt demand. While the market remains preoccupied with the prospect of a glut later this year as peak summer demand wanes and OPEC+ returns halted supplies, nearer-term indicators, including in the diesel market, have been supportive. 'Near term, the market is grappling with relatively low inventories of crude and diesel in Europe and the US, with diesel shortages lending immediate strength to prices,' said Zhou Mi, an analyst at a research institute affiliated with Chaos Ternary Futures Co. Still, crude may return to a bearish trend once OPEC+ supply growth translates into a build-up in oil inventories, Zhou said. In the US, distillate stockpiles remain at the lowest seasonal level since 1996 even after last week's increase. At the same time, the spread in futures between low-sulfur gasoil and Brent for September— a gauge of the profitability of making diesel — has risen about 7% this month. In the Middle East, several oil fields in the semi-autonomous Kurdistan region in northern Iraq were attacked by drones on Wednesday, adding to a spate of hits on energy installations in the area. Still, the region hasn't been shipping any crude to global markets since an export pipeline was shut over two years ago. --With assistance from Yongchang Chin. How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All Forget DOGE. Musk Is Suddenly All In on AI How Hims Became the King of Knockoff Weight-Loss Drugs Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot The Quest for a Hangover-Free Buzz ©2025 Bloomberg L.P.
Yahoo
17-07-2025
- Business
- Yahoo
Oil Edges Higher With Stockpiles and Trade-War Twists in Focus
(Bloomberg) -- Oil edged higher after a three-day drop as traders tracked US stockpiles and the latest twists in the Washington-led trade wars. The Dutch Intersection Is Coming to Save Your Life Advocates Fear US Agents Are Using 'Wellness Checks' on Children as a Prelude to Arrests LA Homelessness Drops for Second Year Manhattan, Chicago Murder Rates Drop in 2025, Officials Say Brent rose toward $69 a barrel after shedding more than 2% over the previous three sessions, while West Texas Intermediate was near $67. US government data released on Wednesday was mixed, with an increase in distillate inventories but a decline in nationwide crude holdings. President Donald Trump said he would send letters to more than 150 countries notifying them of tariff rates, and that the levies imposed could be 10% or 15%. Investors were also tracking his stance toward Federal Reserve Chair Jerome Powell after the US leader denied a plan to remove him. Oil has ticked higher this month — building on an upward trend since May — despite concerns that Trump's tariff onslaught will hurt demand. While the market remains preoccupied with the prospect of a glut later this year as peak summer demand wanes and OPEC+ returns halted supplies, nearer-term indicators, including in the diesel market, have been supportive. 'Near term, the market is grappling with relatively low inventories of crude and diesel in Europe and the US, with diesel shortages lending immediate strength to prices,' said Zhou Mi, an analyst at a research institute affiliated with Chaos Ternary Futures Co. Still, crude may return to a bearish trend once OPEC+ supply growth translates into a build-up in oil inventories, Zhou said. In the US, distillate stockpiles remain at the lowest seasonal level since 1996 even after last week's increase. At the same time, the spread in futures between low-sulfur gasoil and Brent for September— a gauge of the profitability of making diesel — has risen about 7% this month. In the Middle East, several oil fields in the semi-autonomous Kurdistan region in northern Iraq were attacked by drones on Wednesday, adding to a spate of hits on energy installations in the area. Still, the region hasn't been shipping any crude to global markets since an export pipeline was shut over two years ago. --With assistance from Yongchang Chin. How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All Forget DOGE. Musk Is Suddenly All In on AI How Hims Became the King of Knockoff Weight-Loss Drugs Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot The Quest for a Hangover-Free Buzz ©2025 Bloomberg L.P. Sign in to access your portfolio
Bloomberg
17-07-2025
- Business
- Bloomberg
Oil Edges Higher With Stockpiles and Trade-War Twists in Focus
Oil edged higher after a three-day drop as traders tracked US stockpiles and the latest twists in the Washington-led trade wars. West Texas Intermediate traded near $67 a barrel, after shedding about 3% over the previous three sessions, while global benchmark Brent closed below $69. US government data released on Wednesday was mixed, with a climb in distillate inventories but a drop in nationwide crude holdings.
