Singapore oil stocks hit nine month low on supply cuts
Singapore oil stocks fell to 44.83 million barrels as the US-Iran war cut Middle East supply. Inventories for light and middle distillates hit multi-month lows.
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Singapore oil product stocks fell to 44.83 million barrels in the week to May 6, hitting a nine-month low. The war between the United States and Iran has curtailed crude and fuel exports from the Middle East. Tight supply from key exporters forces traders to source more expensive fuel from Western markets.
