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FUJAIRAH / WAM
Stockpiles of oil products at Fujairah jumped 12 per cent in the week to December 7, the biggest rise since February amid signs of slowing exports from the UAE port, according to data issued on Wednesday by the Fujairah Oil Industry Zone (FOIZ).
The total stood at 23.088 million barrels as of December 7, the highest since September 14, according to the data provided exclusively to S&P Global Platts. Heavy distillates including fuel for power generation and bunkers rose 18 per cent, while middle distillates including jet fuel and diesel jumped 13 per cent and light distillates such as gasoline and naphtha rose 3 per cent. It was the first time since August that all three categories showed week-on-week gains.
Exports of all three categories have slowed in recent months, according to commodity data company Kpler. For November, some 96,000 b/d of middle distillates was headed out of Fujairah, down from 137,000 b/d in June, while 213,000 b/d of fuel oil was exported, down from 282,000 b/d in October, Kpler data showed.