Fujairah Heavy Distillate Stocks Reach Two-Month Low

Oil product inventories at Fujairah in the United Arab Emirates experienced a 0.8% increase during the week concluding on 31 August. This rise brought total stock levels to 6.412 million barrels, according to figures released on 2 September by the Fujairah Oil Industry Zone.

This overall increase was primarily driven by gains observed in light and middle distillate categories. These increases counterbalanced a further reduction in heavy distillate stocks, which are commonly utilised as fuel oil for maritime shipping and power generation.

Heavy distillate inventories saw a decline of 3.4% over the week, reaching 8.44 million barrels. This marks the lowest level recorded for this product category in two months, reflecting a consistent downward trend over recent weeks.

Conversely, light distillate stocks demonstrated a significant weekly increase of 10.3%, rising to 2.37 million barrels. This represents the highest level for light distillates since the week ending 27 July.

Middle distillate inventories also contributed to the overall stock growth, climbing by 4.2% to reach 2.19 million barrels. This marks a three-week high for middle distillate volumes.

The recent inventory movements in Fujairah provide insight into regional supply dynamics for various refined petroleum products. The shifts in stock levels for different distillate types indicate evolving market conditions and operational adjustments within the energy sector.