Residual fuel oil stocks at key trading hub Singapore slipped to seven-week lows in the week to Sept. 6, official data showed on Thursday. Onshore fuel oil stocks dipped 2% to 19.45 million barrels (3.06 million metric tons), data from Enterprise Singapore showed.

Weekly net imports rebounded 7% week-on-week at 592,000 tons, though this did not raise inventory levels as overall stocks were still weighed by lower average weekly net imports last month. Weekly net fuel oil imports averaged 631,000 tons in August, versus 737,000 tons in July, capping overall inventory levels.

Malaysia was the top origin for Singapore's net fuel oil imports this week, with volumes at 149,000 tons, followed by Brazil at 135,000 tons, which extended a weekly climb. Imports from the Middle East retreated as a downward correction in the high-sulphur fuel oil market drew fewer barrels over to Asia.

Most of Singapore's fuel oil exports landed up in South Korea, China and Bangladesh in the week to Sept. 6, the data further showed. Sep 6, Fuel oil (in tons) Total Imports Total Exports Net Imports AUSTRALIA 37,464 0 37,464 BANGLADESH 0 25,017 -25,017 BRAZIL 134,902 0 134,902 CHINA 0 25,898 -25,898 HONG KONG 0 13 -13 INDIA 27,145 97 27,048 INDONESIA 40,617 5,002 35,615 JAPAN 14,284 0 14,284 KOREA 0 62,004 -62,004 MALAYSIA 257,536 108,602 148,934 NEPAL 0 81 -81 OMAN 87,385 0 87,385 PAPUA NEW GUINEA 0 0 0 RUSSIA 96,533 0 96,533 SUDAN 23,847 0 23,847 THAILAND 38,414 0 38,414 UNITED ARAB EMIRATES 60,125 0 60,125 UNITED KINGDOM 0 0 0 UNITED STATES 0 0 0 TOTAL FOR 27101979 818,252 226,714 591,538 (Data from Enterprise Singapore) (Reporting by Jeslyn Lerh; Editing by Sohini Goswami)