Middle distillates stocks at key storage hub Singapore were steady as a jump in net exports for jet fuel/kerosene offset weaker net gasoil exports, with Saudi gasoil imports emerging for the first time in 2023, official data showed on Thursday.

Inventories for gasoil and jet fuel/kerosene were at 7.473 million barrels (1.003 million tonnes), as of May 17, down by 4,000 barrels from a week earlier, the data from Enterprise Singapore showed.
Net exports for jet fuel/kerosene rose as much as 71,837 tonnes week-on-week, with the country being a net importer of the products a week earlier.

Total exports were at 71,872 tonnes, compared with minimal import volumes at 35 tonnes.

Below are the top export contributor countries for jet fuel in the week and their respective volumes (in tonnes):

On the gasoil front, total imports continued to soar week-on-week by more than 200% as the country received cargoes from Saudi Arabia for the first time in 2023.

Three more 90,000-tonne Saudi-origin cargoes are expected to arrive in the next two weeks, data from Refinitiv Eikon showed, with volumes from Jizan refinery in the mix.
Source: Reuters (Reporting by Trixie Yap and Matthew Chye)