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Fujairah Oil Product Stocks Dip

OIL

Total product inventories at the Port of Fujairah dipped to 17.742 million barrels for the week ended May 16, down 3.1% from a week earlier according to Fujairah Oil Industry Zone data:

  • Heavy distillates and residues dropped 6.6% to 10.342 million barrels over the same period
  • Middle distillates stocks at Fujairah stood at 1.706 million barrels, down 11.3% from a week earlier and the first drop in four weeks. Light distillates rose 6.9% to 5.694 million barrels, the highest since March 28.
  • Saudi is pulling in increased fuel oil volumes from the port for power generation ahead of summer.

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