Singapore’s fuel oil inventory is reported lower than Korea’s and far below the US’s — making it the thinnest fuel oil tankage node among Asia’s three major hubs. While identical to Japan’s fuel oil stock, Japan’s total refined product inventory is substantially higher; Singapore does not report aggregate refined stocks, exposing its limited buffer capacity for cross-border fuel oil flows. Fuel oil futures surged strongly — the strongest daily gain among listed commodities — signaling restocking has shifted from price signal to physical execution. Concurrently, USD/CNY rose to 6.6763 (+0.09%), amplifying importers’ sensitivity to demurrage: every 1% CNY depreciation adds ~¥66/t to landed cost on dollar-denominated cargo. The Brent−WTI spread widened significantly, and the USGC–Asia arbitrage window has narrowed further, eroding cross-regional economics and pushing more cargoes toward proximate discharge ports — intensifying tankage pressure at hubs like Singapore. Japan’s kerosene and diesel inventories both exceed fuel oil, confirming fuel oil restocking is not demand-driven but trade-driven rebalancing at logistics nodes. Asphalt fell 0.97% to ¥4,511/t — diverging sharply from fuel oil — underscoring intra-heavy-oil-chain fragmentation: this restocking reflects tankage recalibration, not end-user pull. For SNSUC’s transshipment clients, securing Singapore-based tankage slots now is critical; for importers, fuel oil procurement contracts must embed 3–5-day demurrage hedges, as berth waiting times have meaningfully extended under tight tankage conditions.