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Fujairah Oil Product Inventories Rose 13% WoW

OIL PRODUCTS

Oil product stockpiles at the UAE's Port of Fujairah increased 13% on the week to 18.734mn barrels as of 26 February, despite a decline in middle distillates stocks, according to the Fujairah Oil Industry Zone and shipping data.

  • Heavy distillates stocks rose by 12% on the week to 9.316mn barrels.
  • Light distillates inventories surged by 24% last week to 7.777mn barrels, the highest in eight months.
  • Middle distillates stocks dropped by 20% to 1.641mn barrels, the lowest since mid October.

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