Refined product stocks at the Middle Eastern hub of Fujairah dropped by 3.5 percent to 19.855 million barrels in the week to Monday, according to the Fujairah Energy Data Committee
FUJAIRAH, (Pakistan Point News - 17th Jan, 2019) Refined product stocks at the middle Eastern hub of Fujairah dropped by 3.5 percent to 19.855 million barrels in the week to Monday, according to the Fujairah Energy Data Committee.
The biggest decline was in heavy residue stocks, which fell by 8.2 percent to 7.573 million barrels. Bunker demand at Fujairah has been supported by a wide discount to Singapore's prices.
Middle distillate stocks moved in the opposite direction, rising 22.1 percent on the week to 1.964 million barrels, as they continue to climb from the 12-month low seen at the end of last year.
Light distillate stocks slipped 3.8 percent on the week to 10.318 million barrels.
S&P Global Platts holds exclusive rights to publish Fujairah oil inventory data, and has deployed a blockchain network for its collation.
