Refined Products, Fuel Oil, Jet Fuel, Gasoline, LPG, Naphtha
August 20, 2025
FUJAIRAH DATA: Oil product stocks drop to 8-month low as fuel oils slump
By Claudia Carpenter and Nicholson Lim
HIGHLIGHTS
Fuel oil exports pick up
Total inventories little changed for the year
HSFO gains share of ship fuel demand
Oil products inventories at the UAE's Port of Fujairah dropped 11% in the week ended Aug. 18, with heavy distillates slumping to the lowest in almost seven years, according to Fujairah Oil Industry Zone data published Aug. 20.
The total dropped to 15.491 million barrels, the lowest since the record low on Nov. 25, 2024, and wiping out gains for this year.
Stockpiles of heavy distillates used as fuel oils for shipping and power generation fell 18% to 6.118 million barrels, the lowest since Dec. 15, 2018. They are down 18% since the end of 2024. Fuel oil exports from Fujairah are averaging 438,000 b/d in August, up from 408,000 b/d in July and the most since July 2022, data from S&P Global Commodities at Sea showed.
Inventories of middle distillates such as jet fuel and diesel tumbled 32% to 1.532 million barrels, a two-month low. They are down 22% since the end of 2024.
Stocks of light distillates such as gasoline and naphtha rose 1% to 7.841 million barrels, reaching a four-week high and surpassing fuel oils for the second straight week. They are 29% higher than at the end of 2024 and are the only product category to increase this year.
Shipping demand
In shipping, demand was stronger for high sulfur fuel oil than for the low-sulfur variety, traders said. Premiums decreased for HSFO and rose for LSFO, according to Platts, part of S&P Global Energy, data.
"Bunker demand has been decent, and it's been more of HSFO," a Fujairah-based trader said, adding that suppliers were able to fill early slots for prompt deliveries.
The Platts-assessed Fujairah-delivered 380 CST HSFO bunker premium to the 380 CST 3.5% sulfur FOB Arab Gulf fuel oil cargoes averaged $11.77/mt so far in August, down from $14.91/mt in July.
On LSFO, the Platts-assessed Fujairah-delivered LSFO marine fuel premium over the FOB Singapore cargo values averaged $5.37/mt so far this month, up from $4.77/mt in July.
HSFO accounted for 32% of Fujairah's ship fuel sales in July, up from 28% in June, while LSFO's share dropped to 61% from 65% over the same period, according to port data compiled by Platts.
