Residual fuel oil stocks at key trading hub Singapore deepened declines to hit a four-week low, official data showed on Thursday, amid reduced net imports.

Onshore fuel oil stocks fell 2%to 20.1 million barrels (3.15 million metric tons) in the week to August 16, down for a second straight week, data from Enterprise Singapore showed.

Inventories were tighter on declining net imports, which dropped 19%week on week to 637,236 tons, down from 783,466 tons a week earlier.

Kuwaitwas the top origin for Singapore’s fuel oil imports in the week to August 16at 176,142 tons. Brazil was close behind at 165,919 tons, climbing 8.5% from a week prior.

Bangladesh was againthe top destination for fuel oil exports out of Singapore, with net export volumes at 49,996tons.
Source: Reuters (Reporting by Carman Chew; editing by Jason Neely)