Fujairah Oil Product Stocks Up 8.1 Per Cent To Seven-week High
Fakhir Rizvi 2 months ago Wed 12th September 2018 | 07:15 PM
FUJAIRAH, (UrduPoint / Pakistan Point News / WAM - 12th Sep, 2018) Oil product stocks in the middle Eastern hub of Fujairah rose to 18.906 million barrels in the week to Monday, up by 1.422 million barrels from the previous week, according to the Fujairah Energy Data Committee.
"I wouldn't say that there's no [gasoil] tightness ... but we did see some cargoes floating around, so I think it's more or less balanced overall," Platts Analytics quoted a trader as saying Friday.
Stocks of heavy distillates and residues climbed by 7.3 per cent to 8.056 million barrels. The passing of the Middle East peak summer power demand may increase fuel oil availability and ease current tightness, Platts Analytics said.
Platts holds exclusive rights to publish Fujairah oil inventory data, and has deployed a blockchain network for its collation.