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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.
OIL
Oil products stocks at Fujairah fell slightly in the week of Aug. 15, as crude oil and condensate exports resume following heavy rain a flooding towards the end of July.
- A VLCC left on Aug 16 was the first tanker to arrive at Fujairah since the suspension to loadings last month.
- Total oil product inventories fell 1.4% to 23.77mbbls, according to S&P Global Commodity Insights data from the Fujairah Oil Industry Zone.
- Stocks had soared to a 20-month high in the week to Aug. 8 as supply disruptions at the port continued into August.
- The drop in oil stocks was driven by a 19.5% fall in middle distillates, including diesel and jet fuel, to 2.928mbbls.
- During the loading suspension Murban crude exports were diverted to the Jebel Dhanna terminals.
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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