A London Based Digital Publication Covering Diplomatic & Business Activities Globally

Thursday, February 29, 2024

Oil products stocks jump to record on gains in all categories

(Fujairah) – Inventories of oil products at the bunker trading hub of Fujairah in the UAE climbed to a record this week after gains in light, middle and heavy distillates, according to data provided exclusively to S&P Global Platts.

Inventories rose 13 per cent week on week to 25.98 million barrels as of Monday, beating the previous all-time high of 25.749 million on April 29, 2019, data Wednesday from the Fujairah Oil Industry Zone showed. Stock reporting in Fujairah began at the start of 2017.

Heavy distillates and residue inventories climbed 17 per cent to 15.167 million barrels, the highest since November 25. The category includes fuel oil and other heavy fuels used in marine bunkers and power generation.

Stockpiles of middle distillates, such as gasoil, diesel, marine gasoil, jet fuel and kerosene, jumped 28 per cent to 3.402 million barrels, a three-week high, while light distillates edged up 1 per cent to 7.411 million barrels.

Light distillates covered in the report are gasoline, naphtha and condensates that are stored in white product tanks and have an API of 45 degrees and above.

Latest Posts

Latest Posts

Stay in touch

To be updated with all the latest news, offers and special announcements.


UAE & Turkmenistan expand Economic ties

Turkmenistan's Berdimuhamedow urges UAE collaboration in gas field development....

Crown Prince Appreciates the World Governments Summit Team

The Crown Prince Appreciates the valuable efforts of the...

WTO Promotes Consensus

The final World Trade Organization General Council meeting before...

UK and Azerbaijan celebrate growing bilateral relations

UK PM Rishi Sunak congratulated President Ilham Aliyev on...

World Government Summit brings Global leaders to Dubai

The pre-summit day of the World Governments Summit (WGS)...

HH Shiekh Mohammed bin Rashid Meets Youth

Sheikh Mohammed bin Rashid Al Maktoum met with Arab...

Shiekh Hamdan Bin Zayed Honors Environmental Achievers

His Highness Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s...

Princess Kate shares a Message after meeting HM the King

Prince William and Kate Middleton share a Children's Mental...

HM King of Sweden to visit Europe

King Frederik X of Denmark and Queen Mary will...