Onshore inventories of residual fuel at key trade hub Singapore fell 4.7% to two-week lows, coming off after a jump last week, official data showed on Thursday.

Onshore fuel oil stocks were at 20.55 million barrels (3.24 million metric tons) in the week to Dec. 20, according to latest data from Enterprise Singapore.

Exports flowing out of Singapore totalled about 307,000 tons, up 25% from last week.

Most of the cargoes heading out of Singapore were bound for Hong Kong, China and Bangladesh, the data showed.

Meanwhile, the top three origin countries for imports were Indonesia, Brazil and the United Arab Emirates.

Indonesia’s Pertamina had offered more supply for loading in December and January, based on shipping and tender records.

Brazilian imports remained strong, while arrivals from the United Arab Emirates also picked up in the week, the Enterprise data showed.

There wereno fuel oil importsfrom Kuwait into onshore storage for a fifth consecutive week.

Total weekly net import volumes in Singapore rose 37% to 939,000 tons in the week to Dec. 20, the data showed.
Source: Reuters (Reporting by Jeslyn Lerh; Editing by Jacqueline Wong)