Singapore oil product stockpiles edge up to 35.26 million barrels, staying near a 13-year low

Singapore’s total oil product inventories rose slightly week on week to 35.26 million barrels, but remained near a 13-year low. Gasoline stocks fell to a two-week low as net exports reached 572,000 tonnes, far exceeding imports of 233,000 tonnes, with shipments mainly heading to Indonesia and Australia. A broader draw in light distillates, alongside disrupted flows via the Strait of Hormuz linked to the US-Iran war, has tightened regional supply and highlighted a short-term imbalance in Asia’s fuel oil market, according to Reuters.