Oil Product Stockpiles Climb To Two-Week High

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  • Middle distillates drop 8.9% on week
  • Total inventories up 38% on year
  • Heavy distillates at two-week high

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, reports SP Global.

Current stats of the inventories

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.

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Source: SP Global

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