Singapore’s VLSFO bunkering demand remains subdued; JODI reports only 715 kbpd crude imports in Aug — lowest among ASEAN nations. Malacca Strait AIS traffic up to 89 vessels/day (+21.6% vs 30-day avg), but visibility ≠ actual bunkering volume. Fuel oil futures rose +0.97%, signaling early restocking pressure.

SEA crude imports total 2,131 kb/d: THA accounts for 44% (946 kb/d), vs SGP 715, IDN 368, MYS 329; THA refinery input 1,039 kb/d — 93 kb/d above import, signaling inventory drawdown + re-export readiness.