FUJAIRAH DATA: Oil product stocks fall to near record low

Oil product inventories at Fujairah in the UAE fell 12% in the week ended March 16 to 14.425 million barrels, close to the record low, according to Fujairah Oil Industry Zone data published March 18 and compiled by Platts, part of S&P Global Energy, since 2017.

The total was the lowest since the all-time low of 14.235 million barrels set on Nov. 25, 2024, the data showed.

Middle distillate stocks, including jet fuel and diesel, fell the most, declining 25% to 1.857 million barrels, the lowest since Sept. 22, 2025. Light distillate stocks, including gasoline and naphtha, fell 2.4% to 6.856 million barrels, the lowest since Dec. 29, 2025, while stocks of heavy distillates used as fuel oil for power generation and shipping decreased 16% to 5.712 million barrels, the lowest since Sept. 29, 2025, according to the data.

Fujairah has been attacked at least six times since the Middle East war broke out on Feb. 28.

Platts assessed 0.5% sulfur marine fuel delivered at Fujairah at $1,040/mt on March 17. It reached $1,126/mt on March 12, the highest since July 2022. Meanwhile, high-sulfur fuel oil delivered at Fujairah was assessed at $820/mt on March 17, down 6.2% day over day.