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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL PRODUCTS
Stockpiles of oil products from the UAE’s Port of Fujairah have hit a six-week high as of June 3, driven by slower demand for fuel oil, according to Fujairah Oil Industry Zone data cited by Platts.
- Total inventories were up 5.9% on the week to 21.573m bbl, the highest since April 22.
- Stockpiles are up 24% since the end of 2023, Platts said.
- Stocks of heavy distillates were up 5.8% on the week to 10.704m bbl, a six-week high.
- Middle distillate inventories rose 14% on the week to 3.724m bbl, a seven-week high.
- An uptick in power demand for HSFO is expected soon, traders told Platts.
Source: S&P Global Commodity Insights
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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