SINGAPORE DATA: Residual fuel stocks slump to over 6-month low amid higher exports

Singapore’s commercial stockpiles of heavy distillates slipped for a sixth consecutive week to 19.17 million barrels during the week ended May 17, Enterprise Singapore data released late May 18 showed, amid higher fuel oil exports. The stocks were at their lowest level since Nov. 2 when they were at 18.9 million barrels. This week’s inventories, however, were 2.2% higher compared…