The latest data issued by Fujairah Oil Industry Zone, showed that Fujairah port oil stocks recorded the highest level since August after increasing by 6.7% in the week to December 14, according to UAE’s news agency, WAM.
According to data provided by S&P Global Platts, the total stocks volume reached 24.639 million, a rise of 1.550 million barrels from the previous week. Stocks recorded the last higher in August after reaching 25.14 million barrels.
In addition, the data showed that heavy distillates including fuel for power generation and bunkers rising by 11% to 11.327 million barrels as well as light distillate including gasoline and naphtha increasing by 6.4% to 7.257 million barrels.
However, middle distillate stocks in Fujairah, including jet fuel and diesel, fell 0.1% on to 6.054 million barrels.