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Port of Fujairah Oil Product Stocks Slip for Fifth Week

OIL PRODUCTS

Port of Fujairah, UAE, oil product stocks dropped for a fifth consecutive week in the latest data.

  • Total oil product inventories fell 0.2% to 19.505 million barrels in the week ended May 20, a two-month low according to FOIZ data.
  • Stocks of heavy distillates dropped 7.2% over the week to 9.241 million barrels, a six-week low.
  • Inventories of middle distillates grew 16% over the week to May 20 to 3.705 million barrels, a five-week high, while light distillates rose 2.9% to 6.559 million barrels, the most in two weeks.
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