Oil product stockpiles at the UAE’s Port of Fujairah resumed gains in the week ended Oct. 24 as heavy and light distillates expanded, according to Fujairah Oil Industry Zone data published Oct. 26.
The total was 22.527 million barrels as of Oct. 24, up 0.3% from a week earlier and the fourth gain in five weeks, according to FOIZ data provided exclusively to S&P Global Commodity Insights. Inventories, which had dropped almost 10% in the week ended Oct. 17, were up 38% from a year earlier. The total on Oct. 24 was at a two-week high.
Inventories of heavy distillates including fuel for power generation and for marine bunkers stood at 12.346 million barrels as of Oct. 24, up 2.3% from a week earlier and at a two-week high. Heavy distillates were up 59% from a year earlier.
Light distillates including gasoline and naphtha rose 1.1% over the week to 7.295 million barrels, also a two-week high. Stockpiles of light distillates were 44.8% higher on the year.
Middle distillates including jet fuel and diesel dropped 8.9% on the week to 2.886 million barrels, a six-week low. Inventories of middle distillates were 18.22% lower on the year.
Source: Hellenic Shipping News
