- Fuel oil stocks at the Middle Eastern hub of Fujairah have dropped to the lowest level in almost two years, according to data from the
- Fujairah Oil Industry Zone and price reporting agency S&P Global Platts.
- Heavy distillate and residue stocks sank by 8.7% to 8.166 million barrels in the week to Monday, Platts reported Wednesday, the lowest since February 2019.
According to a recent Ship and Bunker news report, Fujairah Oil prices hits a new low in last 21 months.
Oil prices sinks
The level is 52% down from the record 17.168 million barrels set in June, Platts said.
The storage category includes both high- and low-sulfur bunker fuels, as well as fuel oil used in industry and for power generation.
VLSFO prices at Fujairah jumped by $20/mt to $367/mt in the week to Monday, according to Ship & Bunker pricing.
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Source: Ship and Bunker
