June 11, 2026 [Reuters]- Oil product stocks in Asia’s key ​trading hub Singapore fell to their lowest levels in nearly 13 years, led by a ‌sharp drawdown in residual fuel inventories as the Middle East conflict continues, official data showed on Thursday.

Combined onshore oil product stocks totalled 34.41 million barrels in the week to June 10, the lowest since July 2013, according to Enterprise Singapore data.

Oil inventories in global ​storage hubs have been shrinking as most Middle Eastern shipments remain curtailed due to the U.S.-Iran war.

Inventories of residual fuel – ​the most stored oil product in Singapore storage tanks that typically goes into ships ⁠as marine fuel or to refineries as feedstock – totalled 14.84 million barrels in the week to June ​10, hitting their lowest in close to eight years.

Net imports of heavy distillates fell by 36.3% week-on-week, while there ​was no increase in volumes from the Middle East.

“Recent flows have been stabilised by heavy U.S. exports and vessel repositioning, but these are temporary supports,” Sparta Commodities analysts said.

“Inventories are being drawn down, key hubs are nearing operational minimums, and geopolitical risks around ​the Strait of Hormuz remain unresolved,” they added.

Fuel oil trading sources expect residual fuel inventories to rebound ​amid more incoming supply replenishments from the West.

Meanwhile, middle distillate stocks declined further, hovering at about three-month lows, though net ‌exports ⁠of both diesel and jet fuel grew week-on-week.

Diesel/gasoil and jet fuel/kerosene stocks held in Singapore stood at around 6.9 million barrels, down from 7.3 million barrels a week earlier.

Net exports of diesel/gasoil grew nearly five times from a week earlier, with total imports falling 42% week-on-week. Cargoes from India, South Korea and Indonesia were the key ​contributors to imports.

More Indian-origin barrels ​are slated to hit ⁠Singapore shores in June, regional trade sources said, with a narrowing east-west price spread making it more profitable for sellers to send their cargoes to Asia ​instead of west of Suez markets.

Exports gained 56% week-on-week, with volumes to regional ​destinations such as ⁠the Philippines, Vietnam, Australia and Malaysia staying robust.

As for jet fuel, net exports rose nearly 8%, though imports from South Korea and Malaysia also emerged.

Light distillate stocks, which include naphtha and gasoline, rebounded to a two-week high of ⁠12.66 ​million barrels.

Gasoline imports for the week were mostly from Saudi Arabia ​and India, with exports to regional destinations such as Australia, Indonesia and Malaysia being key, while cargo outflows to Mexico were also ​present.