FUJAIRAH DATA: Oil product stocks hit 4-week high amid slowing LSFO ship demand
Oil product stockpiles at the UAE’s Port of Fujairah climbed to a four-week high on Sept.
12 led by gains in fuels used for power generation and shipping amid signs of slowing shipping demand for low sulfur grades, according to Fujairah Oil Industry Zone data published Sept. 14.
Total inventories were 23.450 million barrels as of Sept. 12, up 7.9% from a week earlier and the highest since Aug.
Total inventories were 23.450 million barrels as of Sept. 12, up 7.9% from a week earlier and the highest since Aug.
16, the FOIZ data provided exclusively to S&P Global Commodities Insights showed.
Stocks of light distillates such as gasoline and naphtha rose 4.1% over the week to 7.361 million barrels — a three-week high...
and middle distillates such as jet fuel and kerosene advanced 0.8% to 2.693 million barrels — a two-week high.
Stockpiles were now 27% higher than a year earlier led by a 53.57% jump in heavy distillates.
Stocks of light distillates have climbed 27.9% over the same period and middle distillates are down by 32.4%.
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