FUJAIRAH DATA: Oil product stockpiles rebound as light distillates jump record 72%
Oil product stockpiles at the UAE’s Fujairah rebounded 6.2% in the week ended Oct. 19, led by a record 72% jump in light distillates such as gasoline and naphtha, according to Fujairah Oil Industry Zone data published Oct. 21. Total inventory rose to 7.247 million barrels, marking the first gain in four weeks, the data ...
Oil product stockpiles at the UAE's Fujairah rebounded 6.2% in the week ending Oct. 19, driven by a record 72% increase in light distillates such as gasoline and naphtha, according to data from the Fujairah Oil Industry Zone (FOIZ) published on Oct. 21. The total inventory rose to 7.247 million barrels, marking the first gain in four weeks, though stocks remain 65% below the February 23 level prior to the onset of the Iran war.
Disruptions to ship traffic through the Strait of Hormuz continue to impact the situation. Light distillate stocks recovered to 1.304 million barrels from a record low of 760,000 barrels a week earlier, representing the largest increase in FOIZ data shared with S&P Global Energy since 2017. Heavy distillate stocks rose 12% to 3.682 million barrels, while middle distillate inventories declined 18% to 2.261 million barrels.
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