Singapore, a key trading hub, witnessed a significant rebound in residual fuel oil inventories, reaching nearly three-month highs. According to data from Enterprise Singapore, onshore fuel oil stocks rose by 14.4% to 21.57 million barrels (3.40 million metric tons) in the week ending December 13. This increase is attributed to a recovery in net fuel oil imports, which more than quadrupled week-on-week to 686,000 tons. The surge in Western arbitrage cargoes, expected to breach 4 million tons, played a role in boosting Asia's fuel oil arrivals for December by about 8% compared to November. The rise in inventories follows a decline observed in the previous week.

SOURCE:GOOGLE