FUJAIRAH DATA: Oil product stocks drop to six-month low

Oil product inventories at Fujairah in the UAE fell 5% in the week ended March 30 to 13.321 million barrels, the lowest in six months, according to Fujairah Oil Industry Zone data published April 1.

The total has dropped for four consecutive weeks, or 36% since March 2, just days after the Iran war started on Feb. 28. Fujairah has been attacked at least six times since then. The total is the lowest since the record low of 13.089 million barrels on Sept. 15, 2025.

The inventory data from FOIZ has been compiled by S&P Global Energy since 2017.

Heavy distillates used as ship fuel and for power generation dropped 0.4% in the latest week to 5.329 million barrels, also the fourth consecutive decline and their lowest level since 2018.

Middle distillates, including jet fuel and diesel, rose 0.6% to 1.876 million barrels, the second consecutive gain, while light distillates such as gasoline and naphtha dropped 10% to 6.116 million barrels, the lowest since Sept. 29.

Platts, part of S&P Global Energy, assessed marine fuel 0.5%S delivered in Fujairah at $850/metric ton on March 31, down 4% day over day. Its recent peak of $1,126/mt on March 12 was the highest since July 2022. High sulfur fuel oil delivered in Fujairah was assessed at $690/mt on March 31, down 6.1% day over day.