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Fujairah Oil Stocks Hold Near Three-Month Low

OIL PRODUCTS
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Oil product stocks at Fujairah were 17.812m bbl as of June 24, up 1% on the week, according to Fujairah Oil Industry Zone data, cited by Platts.

  • Light distillate stocks were up by 2.8% to 5.961m bbl. This is a rebound after hitting its lowest since Dec. 25 last week.
  • Middle distillate stocks were down by 16% to 2.580m bbl, the lowest since March 25.
  • Heavy distillate stocks were up 5.6 % to 9.271m bbl, the first rise in three weeks. Heavy distillates are used in power generation.
  • Exports of all three product categories aver averaging 640k b/d in June, the highest since March and up from 596k b/d in May, Kpler said. China, Singapore, and Tanzania are the top destinations.

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Oil product stocks at Fujairah were 17.812m bbl as of June 24, up 1% on the week, according to Fujairah Oil Industry Zone data, cited by Platts.

  • Light distillate stocks were up by 2.8% to 5.961m bbl. This is a rebound after hitting its lowest since Dec. 25 last week.
  • Middle distillate stocks were down by 16% to 2.580m bbl, the lowest since March 25.
  • Heavy distillate stocks were up 5.6 % to 9.271m bbl, the first rise in three weeks. Heavy distillates are used in power generation.
  • Exports of all three product categories aver averaging 640k b/d in June, the highest since March and up from 596k b/d in May, Kpler said. China, Singapore, and Tanzania are the top destinations.

Keep reading...Show less