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FUJAIRAH / WAM
Total oil product stocks in the Port of Fujairah were 16.712 million barrels, up 4.6 percent on the week, after heavy distillates rebounded from last week’s record lows, according to latest data from the Fujairah Energy Data Committee, or FEDCom. Stocks of heavy distillates and residues jumped 34.3 percent on the week to 6.5 million barrels. This is after stocks tumbled a week earlier to a record low of 4.84 million barrels, S&P Global Platts Analytics said in a report.
Bunker demand in Fujairah was reported as firmer, with market sources noting that inquiries and trade volumes have picked up in recent days. Fuel oil cargoes moving from the Middle East to Asia in March are estimated at two million mt, down from volumes of around 2.5mn mt in Jan and Feb, sources said.