NewsSignals AI analysis·Reuters·
Singapore oil product inventories fall to three-week low
Grade Bbullish AI signal$WTI$BRENT
Singapore's onshore oil product inventories fell to a three-week low of 38.134 million barrels as declining gasoline, naphtha, diesel, and jet fuel stocks drove the overall drawdown.
Diesel and jet fuel inventories dropped 20% week on week to 8.31 million barrels, while residual fuel stocks rebounded 4.5% to 18.86 million barrels after six consecutive weekly declines.
Tighter light and middle distillate inventories could support regional fuel prices, although ample East Asian supplies and elevated freight costs may complicate the outlook.
Bullish strength: 60/100
- Singapore's total onshore oil product inventories fell to a three-week low.
- Diesel and jet fuel stocks declined 20% week on week to a four-week low.
- Gasoline exports increased about 49% week on week while imports fell about 61%.
Bearish strength: 40/100
- Residual fuel inventories rebounded 4.5% week on week to 18.86 million barrels.
- East Asia appears amply supplied in October, with higher volumes arriving from key exporting regions.
This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.