Onshore fuel oil stockpiles in Singapore dipped to their lowest in three weeks after imports slowed, data showed on Thursday.

Inventories were at 25.41 million barrels (about 4 million metric tons) in the week to January 7, down 5% from the previous week, based on data from Enterprise Singapore.

Imports into onshore tanks fell during the first week of 2026, sliding 26% to 756,000 tons. The top import origin was Indonesia.

Meanwhile, exports out of the tanks declined to about 227,000 tons, down 33% week-on-week. Most of the exports were headed for China.
Despite the weekly retreat in the inventory levels, the stockpiles continued to hover well above an average of 23 million barrels per week seen last year.

The high inventory has limited markets from rebounding sharply, with high-sulphur and low-sulphur spot differentials stuck in discounts into early 2026.
Source: Reuters