The growing number of ships seeking refuge from war in the Middle East in the waters around Singapore is beginning to drain its marine fuel supplies, raising concerns about disruption to global shipping.
Singapore is the world’s biggest refuelling port, a crucial hub where ships take on the petroleum-based “bunker fuel” used by the industry.
The city-state’s reserves of the fuel rose initially following US and Israeli strikes on Iran. But inventories fell to a 10-week low this week, coinciding with increased congestion in the Straits of Singapore and Malacca, key shipping lanes linking Asia and the west.
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