FUJAIRAH DATA: Oil product stocks rebound to two-week high
Oil products inventories at Fujairah in the UAE rose 7.5% in the week ended Aug. 3 to a two-week high of 7.002 million barrels, rebounding from two straight weeks of declines, according to Fujairah Oil Industry Zone data published Aug. 5. Heavy distillate stocks, used as shipping fuel and for power generation, rose 8.6% to ...
Oil product stocks in Fujairah, United Arab Emirates, surged to a two-week high, according to the latest data from the Fujairah Oil Industry Zone (FOIZ). The inventory of oil products rose by 7.5% in the week ending August 3, reaching 7.002 million barrels, up from two consecutive weeks of declines.
Heavy distillate stocks, primarily used for shipping fuel and power generation, experienced an 8.6% increase, marking the first uptick in four weeks. They now stand at 3.787 million barrels. Middle distillate inventories, encompassing jet fuel and diesel, saw a 10% rise, reaching a four-month high of 1.593 million barrels.
Light distillate stocks, including gasoline and naphtha, expanded by 2.6% and hit a three-week high of 1.622 million barrels. Platts, a division of S&P Global Energy, reported that marine fuel oil with 0.5% sulfur, delivered in Fujairah, was priced at $798 per metric ton on August 4, a decrease from the recent peak of $845 per metric ton on July 23. High-sulfur fuel oil delivered in Fujairah was assessed at $595 per metric ton on August 4, a drop from the recent high of $645 per metric ton on July 23.
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