FUJAIRAH DATA: Oil product stocks fall to three-week low
Oil product inventories at Fujairah in the UAE dropped 7.8% in the week ended Oct. 5 after falling 20% the previous week, according to Fujairah Oil Industry Zone data published Oct. 7. The total inventory declined to 7.574 million barrels, a three-week low, with light distillates such as gasoline and naphtha down 65% to a ...
Oil product inventories in Fujairah, UAE, declined by 7.8% in the week ending October 5, reaching their lowest level in three weeks. The total inventory decreased to 7.574 million barrels, with light distillates like gasoline and naphtha falling by 65% to a record low of 559,000 barrels. Heavy distillates used for ship fuel and power generation increased by 21% to 4.723 million barrels, while middle distillates, including jet fuel and diesel, dropped by 15% to 2.292 million barrels.
Platts-assessed marine fuel, which has a sulfur content of 0.5%, rose by 0.7% to $980 per metric ton on October 6, continuing its upward trend from a recent low of $940 per metric ton on September 30. Similarly, Platts-assessed bunker fuel oil, categorized as 380 CST, also increased by 0.7% to $700 per metric ton on October 6, extending its gains from a recent low of $658 per metric ton on September 30. This information is sourced from the Fujairah Oil Industry Zone data published on October 7.
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