FUJAIRAH DATA: Oil product stocks rise to nine-month high Jan 26

Oil product stockpiles at Fujairah in the UAE rose to a nine-month high on Jan. 26, led by gains in both light and heavy distillates over the previous week, according to Fujairah Oil Industry Zone data provided Jan. 28.

Total inventories rose 9.4% in the week ended Jan. 26 to 23.369 million barrels, the highest since April 7, showed FOIZ data compiled by Platts, part of S&P Global Energy, since 2017.

Heavy distillates used as fuels for power generation and shipping fuel rose to a seven-week high of 11.435 million barrels Jan. 26, while light distillates such as gasoline and naphtha rose to a three-month high of 8.529 million barrels, the data showed.

Middle distillate stocks, such as jet fuel and diesel, fell 3.8% from a week ago to 3.405 million barrels, the first drop in four weeks. They had jumped 67% in the previous three weeks, according to the data.

Platts assessed low-sulfur marine fuel 0.5% bunker delivered in Fujairah at $452/mt on Jan. 27, down 0.7% from the previous session. The Platts-assessed high-sulfur fuel oil 380 CST delivered in Fujairah was at $375/mt on Jan. 27, down 3.4% day over day.