Data released by Fujairah Oil Industry Zone showed that oil products stockpiles in the East Coast port of Fujairah, continued to decline during the last week of July, WAM reported.
Inventories decreased by 2.7% compared to the previous week, down to 25.01 million barrels (mmbbl) in August 3, which records the fifth drop in six weeks.
Additionally, middle distillates declined 19% in the same week, dropping to 3.552 mmbbl and recording the lowest since August 13. Meanwhile, light distillates jumped 8% to 7.283 mmbls, recording a two-week high.
Furthermore, heavy distillates and residues dropped 3% in the same week to 14.175 mmbbl to a two-week low.