Residual fuel oil inventories at Singapore, a key trading hub, rebounded to nearly three-month highs as net imports recovered, according to official data. Onshore fuel oil stocks rose by 14.4% to 21.57 million barrels in the week ending December 13. The recovery in net fuel oil imports, which quadrupled week-on-week to 686,000 tons, played a key role in this increase. The surge in Western arbitrage cargoes is expected to breach 4 million tons, contributing to Asia's fuel oil arrivals for December, which are up about 8% from November. The rise follows a decline observed in the previous week.

SOURCE:GOOGLE